One in five prime-region private home resale deals sold at a loss in Q3

Islandwide, the share of loss-making deals crept up to 4.6% in Q3, from 3.7% in the previous quarter and 3.3% a year earlier.

ST PHOTO: CHONG JUN LIANG

Published Nov 01, 2026, 08:35 PM

Updated Nov 01, 2026, 08:35 PM

Nearly one in five prime-area private home resales made a loss in Q3, led by the Core Central Region. Islandwide loss-making deals rose to 4.6%, the highest since Q2 2022.

Cushman & Wakefield said 93 of 2,021 matched transactions were sold at a loss. Marina One Residences had the steepest percentage loss, while OUE Twin Peaks had the biggest dollar loss.

Profits also narrowed, with the median gain falling to 24.8%. Executive condominiums led gains, with Hundred Palms Residences delivering returns of up to 163.9%.

SINGAPORE – Nearly one in five private homes resold in Singapore’s prime location market ended in a loss in the third quarter, even as the vast majority of sellers across the island stayed in the black.

Islandwide, the share of loss-making deals crept up to 4.6% in Q3, from 3.7% in the previous quarter and 3.3% a year earlier, data compiled for The Business Times by real estate consultancy Cushman & Wakefield (C&W) showed.

This was the highest proportion since the last highwater mark in Q2 2022, when 6.9% of resale transactions were made at a loss.

C&W studied caveats for private homes with a prior purchase history within the preceding 10 years – over 40 quarters – that were transacted in Q3 2026. Of the 2,021 matched transactions, 93 were sold at a loss, or roughly one in 22 deals.

The Core Central Region (CCR) accounted for half – 49% – of all loss-making transactions, with 19.5% of deals in the submarket ending in the red. This was slightly higher than the previous quarter’s 17.7%.

In comparison, loss-making transactions accounted for 4.5% of deals done in the Rest of Central Region (RCR), up from 2.7%. In the suburban Outside Central Region (OCR), the tally edged up to 1.6% from 1.3% in Q2.

The RCR accounted for 30% of all loss-making deals and the OCR at 20%.

The five biggest loss-making non-landed transactions by both percentage and quantum were for 99-year leasehold properties in the CCR, C&W’s analysis showed.

The steepest percentage loss was recorded at Marina One Residences, where a 710 sq ft unit was sold for $1.25 million in August, about 32% less than the $1.83 million it was purchased at in July 2018.

Over a holding period of 8.1 years, this translated to an annualised loss of 4.6%.

By dollar quantum, the heaviest hit was an OUE Twin Peaks unit, where a 1,604 sq ft unit was sold for $3.88 million in August.

The seller had bought the unit for $4.9 million in March 2017 – taking a gross loss of about $1 million or 20%, which worked out to an annualised loss of 2.4% over a holding period of about 9.4 years.

Overall, profit margins continued to shrink. The median gain among profitable resale and sub-sale transactions fell to 24.8% in Q3, from a peak of 30.4% in Q2 2025.

Wong Xian Yang, C&W’s head of research for Singapore and South-east Asia, said: “With overall private residential prices at their historical highs coupled with current global macroeconomic uncertainty, buyers are expected to be more selective and future resale performance would vary more widely across developments.”

At the same time, three of the top five most profitable deals by quantum in Q3 were for CCR properties.

By dollar quantum, the biggest gainer was a Leedon Residence unit. A 4,704 sq ft unit changed hands for $14.3 million in July, earning the seller a profit of $3.75 million over the 2017 purchase price of $10.55 million.

The gain of 35.5% translated to an annualised return of 3.3% over a holding period of 9.5 years.

All five biggest profit-making transactions by quantum were in freehold developments, which Wong said “tend to command a premium”.

ECs continue to yield biggest percentage gains

Against the weaker showing in prime districts, executive condominiums (ECs) delivered the quarter’s biggest windfalls, again dominating the rankings of the most profitable resale deals by percentage.

All five top transactions were at Hundred Palms Residences in the OCR, with gains ranging from 138.9% to 163.9% over holding periods of around nine years.

The biggest percentage gain came from a 1,055 sq ft unit sold for $2.26 million in September.

The seller had bought it for $860,000 in July 2017, making a profit of about $1.4 million. That represented a gain of 163.9%, or an annualised return of 11.2% over 9.2 years.

Excluding ECs, the five biggest percentage gainers recorded profits of between 83.9% and 88.1%, with four of the five units in freehold developments.

Topping the list was a 1,410 sq ft unit at freehold condominium The Sea View in the RCR.

It was sold for $4.1 million in September, about 10 years after it was bought for $2.18 million in October 2016. The seller made a gain of 88.1%, or 6.5% on an annualised return basis.

C&W’s analysis excludes transaction costs and taxes such as buyer’s and seller’s stamp duties. THE BUSINESS TIMES

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Property market/sector

全岛范围内，第三季度亏损交易的比例从上一季度的 3.7% 和一年前的 3.3% 略微上升至 4.6%。

《海峡时报》照片：梁崇俊

发布于 2026 年 11 月 1 日晚上 8:35

更新于2026年11月1日晚上8:35

第三季度，近五分之一的黄金地段私人住宅转售交易出现亏损，其中核心中环地区亏损最为严重。全岛亏损交易比例上升至4.6%，为2022年第二季度以来的最高水平。

高纬环球表示，在2021笔匹配交易中，有93笔交易亏损。滨海盛景苑的亏损百分比最高，而OUE Twin Peaks的亏损金额最大。

利润也出现下滑，中位数涨幅降至24.8%。执行共管公寓领涨，其中百棕榈公寓（Hundred Palms Residences）的回报率高达163.9%。

新加坡——尽管全岛绝大多数卖家都实现了盈利，但新加坡黄金地段二手私人住宅市场第三季度近五分之一的成交量却以亏损告终。

据房地产咨询公司 Cushman & Wakefield (C&W) 为《商业时报》汇编的数据显示，全岛亏损交易的比例在第三季度小幅上升至 4.6%，高于上一季度的 3.7% 和一年前的 3.3%。

这是自 2022 年第二季度达到上一个高峰以来的最高比例，当时 6.9% 的二手房交易都是亏损的。

C&W 研究了过去 10 年（超过 40 个季度）内有先前购买历史的私人住宅的产权限制，这些住宅在 2026 年第三季度进行了交易。在 2021 笔匹配的交易中，有 93 笔交易亏损，大约每 22 笔交易中就有 1 笔亏损。

核心中部地区（CCR）的亏损交易占所有亏损交易的一半，即49%，该子市场中19.5%的交易最终以亏损告终。这一比例略高于上一季度的17.7%。

相比之下，中部地区其他地区（RCR）的亏损交易占交易总额的 4.5%，高于上一季度的 2.7%。中部地区以外郊区（OCR）的亏损交易占比也从第二季度的 1.3% 小幅上升至 1.6%。

RCR 占所有亏损交易的 30%，OCR 占 20%。

C&W 的分析显示，亏损最大的五笔非有地交易（无论从亏损百分比还是亏损金额来看）都是 CCR 的 99 年租赁产权物业。

跌幅最大的是滨海盛景住宅，一套 710 平方英尺的公寓在 8 月份以 125 万美元的价格售出，比 2018 年 7 月的购入价 183 万美元低了约 32%。

持有 8.1 年，相当于年化亏损 4.6%。

按金额计算，受影响最大的是 OUE Twin Peaks 的一套公寓，其中一套 1,604 平方英尺的公寓在 8 月份以 388 万美元的价格售出。

卖方于 2017 年 3 月以 490 万美元的价格购入该房产，毛亏损约 100 万美元，即 20%，按持有期计算，年化亏损为 2.4%。

总体而言，利润率持续下降。盈利的转售和分期付款交易的中位数收益率从2025年第二季度的峰值30.4%降至第三季度的24.8%。

C&W新加坡及东南亚研究主管黄贤阳表示：“由于整体私人住宅价格处于历史高位，加上当前全球宏观经济的不确定性，预计买家会更加挑剔，未来不同楼盘的转售表现将存在更大差异。”

与此同时，第三季度盈利最高的五笔交易中，有三笔是 CCR 物业。

按金额计算，涨幅最大的是一套利顿公寓。这套面积为4704平方英尺的公寓在7月份以1430万美元的价格易手，比2017年1055万美元的购入价获利375万美元。

35.5% 的收益转化为 9.5 年的年化收益率 3.3%。

按金额计算，五笔利润最高的交易全部是永久产权开发项目，黄先生表示，永久产权项目“往往能获得溢价”。

ECs 继续带来最大的百分比收益。

尽管黄金地段的房产表现疲软，但执行共管公寓（EC）在本季度带来了最大的收益，再次在最赚钱的转售交易百分比排名中占据主导地位。

前五大交易全部位于 OCR 的 Hundred Palms Residences，持有期约为九年，收益率从 138.9% 到 163.9% 不等。

涨幅最大的是一套面积为 1,055 平方英尺、售价为 226 万美元的公寓，该公寓于 9 月份售出。

卖方于 2017 年 7 月以 86 万美元的价格购入该房产，获利约 140 万美元。这相当于 163.9% 的收益，或 9.2 年的年化收益率为 11.2%。

除执行共管公寓外，涨幅最大的五个单位的利润率在 83.9% 到 88.1% 之间，其中五个单位中有四个是永久产权开发项目。

榜首是位于 RCR 的永久产权公寓 The Sea View 的一套 1,410 平方英尺的单元。

该房产于 9 月份以 410 万美元的价格售出，距离 2016 年 10 月以 218 万美元的价格购入已过去了大约 10 年。卖方获利 88.1%，或按年化收益率计算为 6.5%。

C&W的分析不包括交易成本和税费，例如买卖双方的印花税。《商业时报》

住宅物业

房地产市场/行业