Condo sellers face longer waits, more selective buyers amid flurry of new launches

“In terms of volume, the market is not falling … but there may be a slower pace of sale because too many choices and people (are taking) longer to decide,” said ERA’s Mr Lim.

PropNex’s senior associate division director Jack Sheo said buyer sentiment has been volatile in 2025. The resale market started the year strong amid expectations of falling interest rates, cooled in the second quarter due to global economic uncertainties, perked up in the third quarter then turned subdued again as new launches captured attention.

His longest-running listing – a three-bedder in D’Leedon – has been on the market for more than seven months. While located in the prime Farrer area near top schools like Nanyang Primary and Raffles Girls’ Primary, the unit is currently tenanted, hampering viewing availability and deterring buyers seeking immediate occupancy.

With the tenancy ending, “serious offers” have come in, said Mr Sheo, adding that the unit’s owner has been understanding about the long search for a buyer.

But not all home owners can afford to wait. For sellers needing to move quickly, price adjustments have become necessary.

This was the case for Mr Ric Kua. In need of a bigger space for his family of four, the sales manager put his 872 sq ft two-bedder on the market in March. He had expected a quick sale like his previous home, which sold within six weeks. Instead, the search for a buyer this time took almost three months, with offers falling short of expectations.

He eventually accepted an offer of S$1.6 million (US$1.23 million), about 5 per cent below his target, mindful of the time needed to secure a new home for his family returning from overseas.

His agent attributed the sluggishness to increased buyer alternatives and lingering uncertainty following the April announcement of “Liberation Day” tariffs by US President Donald Trump.