Sell now or hold three years?

“My condo has appreciated. Should I sell now or wait three years?” Start with a more useful question: what could you do with the proceeds if you sold today, and how would that compare with holding? Selling at a gain is not automatically better, and holding doesn't guarantee appreciation.

Illustrative condo and equity

ILLUSTRATIVE STARTING POINT: Suppose a condo was purchased for S$1.2 million and could sell today for S$1.6 million. Gross appreciation is S$400,000. Assume outstanding mortgage S$650,000 and CPF refund, including accrued interest, S$300,000. These are hypothetical household figures, not a valuation or actual Country Esquire ownership details.

If you sell today

SELL TODAY: Assume S$1.6 million transaction price, S$650,000 mortgage redemption, S$300,000 CPF refund, S$34,880 agency commission including 9% GST (an illustrative negotiable 2% commission), and S$3,000 legal costs. Estimated cash proceeds = S$612,120, provided there is no SSD, prepayment penalty or other debt. The CPF refund returns to the owner's CPF accounts subject to applicable requirements. S$612,120 is equity released in cash, not investment profit.

Three future selling scenarios

HOLD THREE YEARS: For illustration, assume future loan redemption is S$575,000, CPF refund S$325,000, and sale fees remain 2% plus 9% GST, with S$3,000 legal fees. At future selling prices of S$1.5 million, S$1.6 million and S$1.7 million, estimated cash proceeds are S$564,300, S$662,120 and S$759,940 respectively. These are not property price forecasts. They exclude holding-period costs, possible income, SSD and transaction-specific fees.

More cash isn't free profit

MORE CASH DOES NOT AUTOMATICALLY MEAN MORE PROFIT. The mortgage principal falls in the hypothetical hold period because money was paid towards it. Principal repayment builds equity; interest, property tax, insurance, upkeep and maintenance are ownership expenses. A fair comparison includes these cash flows, the value of housing services or rent, and what you could have earned or saved with the money from selling today.

Country Esquire: reported transactions

AN ACTUAL TRANSACTION COMPARISON: The supplied Country Esquire Past Transaction Analysis dated 2 November 2026 lists a 1,270 sqft, 11th-floor three-bedroom unit sold on 27 December 2024 for S$2,230,000 (S$1,756 psf), and a separate 1,259 sqft, third-floor three-bedroom unit sold on 3 August 2026 for S$2,125,000 (S$1,687 psf). The later transaction was S$105,000 lower in total, and approximately 3.9% lower by transacted psf.

Why the units aren't directly identical

THE CRITICAL DISTINCTION: These were different Country Esquire units, on different floors and stacks, with slightly different sizes. Their layout, condition, orientation and buyer preferences might also differ. This comparison does NOT prove that one unit depreciated, or that overall Country Esquire values declined by 3.9%. It illustrates that a later comparable-sized transaction does not always close at a higher price than an earlier one. Source: supplied Country Esquire Past Transaction Analysis, dated 2 Nov 2026, attributed to URA Realis, EdgeProp, EcoProp and Huttons.

Austville Residences: same-unit resale loss

AUSTVILLE RESIDENCES — SAME-UNIT LOSS. The supplied Huttons report dated 2 November 2026 records a 1,033 sqft three-bedroom unit purchased on 25 September 2025 for S$1,478,000 and sold on 28 November 2025 for S$1,378,000. That is a S$100,000 gross price loss (about 6.8%) before stamp duties, commissions, legal fees and financing. The report identifies the same unit, but not the owner's reason for selling. One transaction does not establish a project-wide trend.

Braddell View: later lower comparable sale

BRADDELL VIEW — DIFFERENT UNITS, LOWER LATER SALE. The supplied Huttons report records a 1,701 sqft three-bedroom unit sold for S$1,920,000 on 18 February 2025, and another 1,701 sqft three-bedroom unit sold for S$1,790,000 on 27 April 2026. The later transaction was S$130,000 lower (about 6.8%). These were different units in different blocks; floor, facing, condition and layout can affect pricing. This is not a same-unit loss or proof of a development-wide decline.

Other Country Esquire sales

OTHER COUNTRY ESQUIRE EXAMPLES: The same report lists 1,270 sqft units selling for S$2.15 million (S$1,693 psf) in May 2024 and S$2.03 million (S$1,598 psf) in August 2024, and the 1,270 sqft December 2024 sale at S$2.23 million (S$1,756 psf). It also lists a larger 1,679 sqft unit at S$3.4 million in February 2026. These six reported transactions are too few and too varied to establish a project-wide trend. Analyse appropriate comparables and unit attributes before recommending a price.

Future resale competition

FUTURE EXIT COMPETITION: A condo's resale appeal depends on its condition, layout, floor and facing, current competing listings, nearby upcoming completions, maintenance and the likely next buyer's budget. Newer supply does not automatically drive an existing project's value down, but it can change what buyers compare.

Holding expenses and income

WHAT DOES HOLDING COST? For an owner-occupier, include mortgage interest, property tax, management and sinking-fund contributions, repairs, insurance and the benefit of continuing to live in the home. For an investor, include net rental income, vacancy, operating costs and applicable income tax. Record loan principal separately rather than treating all mortgage instalments as expenses.

Alternative uses for released funds

WHAT IF YOU SELL TODAY? The hypothetical S$612,120 cash could repay other debts, support a new home, fund retirement or be invested, but each option has costs and risks. At a purely assumed 3% compounded annual return, S$612,120 becomes about S$668,900 in three years before fees and taxes. This isn't a promised return and doesn't cover replacement housing or CPF restrictions. Compare like with like.

Seller's Stamp Duty

CHECK SELLER'S STAMP DUTY BEFORE SELLING. Residential properties acquired on or after 4 July 2025 generally face a four-year SSD regime with declining rates. Earlier acquisitions can have different holding-period schedules. Waiting until SSD no longer applies could change the result, but don't decide only on tax. Confirm acquisition date, applicable rules, exceptions and any loan penalty.

Sell, hold or reposition?

WHEN TO SELL, HOLD OR REPOSITION: SELL may suit a household with defensible resale pricing and a better use for released equity. HOLD may suit an owner with a suitable home, manageable commitments and adequate reserves. Repositioning can support family changes or right-sizing. The right choice turns on actual net proceeds, carrying costs, replacement purchase price, expected buyer competition and the ability to hold through a weaker market.

Five-point decision review

MY FIVE-POINT REVIEW: (1) establish realistic sale range using truly comparable completed transactions; (2) calculate mortgage redemption, CPF refund and selling costs; (3) test holding capacity under income and price stress; (4) examine future competition and exit buyer demand; (5) compare what selling proceeds will fund, including taxes, financing and replacement housing. Don't equate a strong valuation with a superior decision.

What the example actually tells us

CONCLUSION: Country Esquire demonstrates variation between comparable-sized resale transactions, not inevitable depreciation. The key question isn't simply whether prices will rise. It is: if I hold for three years and sell for less than hoped, can I manage comfortably? And if I sell now, will the next move actually improve my household's position? SELL, REPOSITION and HOLD can each be sensible.

Your personalised Sell or Hold Review

NEXT STEP: Explore preliminary figures at https://jerrylow.sg/tools/ . Read Article #4 on paper gains at https://jerrylow.sg/articles/condo-400k-paper-profit-real-equity-2026/ . For a personalised Sell or Hold Review, WhatsApp Jerry “SELL OR HOLD REVIEW” with the condo name, acquisition year and intended timeframe. We can compare actual transactions, proceeds, holding costs, alternatives and exit strategy. No obligation to transact. Jerry Low 劉權義 | Property Wealth Planning | Huttons Asia Pte Ltd. The thinking behind the next move.

References and source description

REFERENCES: Huttons Country Esquire (6 transactions), Austville Residences (26 transactions) and Braddell View (60 transactions) Past Transaction Analysis reports supplied by the author, dated 2 November 2026, with data attributed to URA Realis, EdgeProp, EcoProp and Huttons. IRAS SSD: https://www.iras.gov.sg/taxes/stamp-duty/for-property/selling-or-disposing-property/seller%27s-stamp-duty-%28ssd%29-for-residential-property . CPF sale refunds: https://www.cpf.gov.sg/member/home-ownership/using-your-cpf-to-buy-a-home/cpf-refund-when-selling-or-transferring-property . CPF refunded proceeds: https://www.cpf.gov.sg/service/article/when-i-sell-my-existing-property-what-can-i-do-with-the-sale-proceeds-that-are-refunded-to-my-cpf-accounts .

Important disclaimer

DISCLAIMER (2 NOVEMBER 2026): Country Esquire prices describe DIFFERENT units and do not establish project-wide depreciation or a particular owner's loss. Source report does not contain the units' condition or detailed attributes; verify individual transactions independently where necessary. Other amounts, future prices and compound returns are illustrative, excluding some costs and income. This is general education, not property valuation, legal, tax, mortgage or personal investment advice.

← All articles