SINGAPORE – When a two-bedroom condominium unit in Serangoon failed to sell after two months, the property agent persuaded its owner to reduce the $1.92 million asking price by $100,000.
In May, an offer was made for the 1,100 sq ft leasehold unit, which was first listed in early February.
But that deal fell through because the potential buyer was facing issues selling his own home – a common hurdle for buyers who need to dispose of one property before buying another.
The agent, who declined to be named, said: “Today’s buyers have many choices among resale units and they will take their time to shop for the best buy.”
Today, that unit has been on the market for at least four months. It is a sign of how some resale condos are taking longer to sell as buyers hold back and new launches compete for demand.
Some sellers also continue to hold out for higher prices because higher land costs mean the cost of replacing a home is expected to rise further over the next 12 to 18 months, said Wong Shanting, director and head of research at real estate adviser Newmark Singapore.
Data from property portals PropertyGuru and 99.co showed resale condo listings are staying online for nearly twice as long as they did during the post-Covid-19 market peak.
In 2022, listings for completed resale condos were taken off the PropertyGuru portal after a median of 45 days. The following year, this went down to 39 days.
But as at May 18, 2026, active resale listings created in the first three months of the year had a median age of 81 days.
Similarly, 99.co associate head of research Joel Lim also noted that resale condo listings taken off the portal in the first quarter of this year had been up for a median of 106 days.
This was up from 66 days in the same period in 2025.
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