Singapore Property Sellers Facing Longer Waits and Deeper Discounts

Sellers of private homes in Singapore are waiting longer to close deals as buyers get choosier, forcing some owners to accept steeper discounts than a year ago. The median number of days it takes to sell a resale condominium has climbed to 82 in June 2026 — up from 58 at the start of the year, according to data compiled by SRX and local agencies. Meanwhile, vendor discounts have widened, particularly in prime locales like Orchard and Bukit Timah.

Buyers Take Their Time as Supply Catches Up

Fresh supply from new launches in Tengah and Jurong over the last two quarters has given buyers more options. The rapid pace of new Build-to-Order (BTO) flats in these emerging towns, combined with continued launches in established districts like Bishan and Marine Parade, has loosened what was once a fiercely tight resale market. Agents from OrangeTee Realty report that even well-renovated units in Novena and Robertson Quay now draw far fewer back-to-back viewings than during the state’s post-pandemic property surge in 2023-24, as eager buyers weigh more choices before making offers.

This slowdown matters because it signals a shift in momentum after three years of relentless price gains. Since 2021, private condo median values had climbed by about 20% citywide, with HDB resale flats also breaching S$600,000 in popular towns like Queenstown and Toa Payoh. As the Monetary Authority of Singapore keeps mortgage rates high and cooling measures deter foreign investors, sellers must increasingly compete for local family upgraders — who are in no hurry to rush into a deal.

Discounting Rises, Especially in Core Central Regions

According to PropertyGuru’s monthly flash report, the average vendor discount (the difference between the first asking price and transacted price) widened to 4.1% in District 9 (Orchard, River Valley) in June. That marks the steepest gap since late 2022. In District 10 (Holland, Bukit Timah), discounts averaged 3.5%, while city-fringe districts like 15 (Katong, Marine Parade) hovered around 2.8%. Agents say sellers on River Valley Road and Leonie Hill have in several cases accepted counter-offers S$100,000 below initial expectations, especially for older developments facing competition from newly completed condos nearby.

In the mass market, HDB flats in Woodlands and Sengkang are also taking notably longer to move. Median resale time for 4-room flats in Woodlands stood at 64 days last month, compared with just 38 days a year prior. While prices for popular layouts remain stable, the cooling has made it harder for over-ambitious sellers to achieve record prices seen in mid-2024. Upgraders targeting executive condominiums (ECs) in neighbourhoods like Tampines and Tengah enjoy far more leverage, with median EC transactions closing at just 1.4% below list price — a modest discount but still an uptick from the 0.7% margin in early 2025.

Advice for Buyers and Sellers This Quarter

Market participants expect days on market to remain high through Q3, especially if the school holidays and persistent heatwaves continue to deter weekend viewings. Sellers in well-located areas — such as Meyer Road or Alexandra — are being advised by major agencies, including ERA and PropNex, to price realistically and prepare for negotiations. Properties with fresh renovation or good proximity to MRT lines (like Stevens or Bidadari) may buck the trend and fetch near-asking prices, but most sellers must adjust expectations in line with a more balanced market. For buyers, patience is likely to pay off, particularly as more new units from the Greater Southern Waterfront and Tengah pipeline hit the listings in the coming months. As the island’s property market cools from past highs, both sides will need clarity and flexibility to secure the right deal.