Understanding the Full Costs of Selling Property in Singapore (2025)

Selling a property in Singapore involves a range of financial obligations that vary depending on the property type—whether it's an HDB resale flat or a private condominium. Understanding these costs in 2025 is essential for homeowners who want to maximise their sale proceeds and make informed decisions.

Costs of Selling an HDB Resale Flat in 2025

1. Agent Commission
   Property agents typically charge 2% of the final transaction price. However, some agencies offer reduced rates—down to 1%. On a $500,000 transaction, this translates to $5,000 in commission instead of $10,000, significantly increasing the seller's net gain.

2. Legal Fees
   Legal fees for HDB resale transactions generally range from $2,500 to $5,000. These cover the preparation of legal documents such as the Sale and Purchase Agreement, title transfer, and liaising with authorities. Some legal service providers offer more competitive rates starting from $1,800.

3. HDB Resale Levy (If Applicable)
   A resale levy applies if you’re purchasing another subsidised flat after selling your current one. Subsidised flats include those bought directly from HDB, resale flats purchased with CPF Housing Grants, DBSS flats, and Executive Condominiums bought from developers. The levy does not apply if the next purchase is a private property or non-subsidised resale flat.

4. Early Redemption Penalty (If Applicable)
   Sellers with outstanding mortgage loans may incur early redemption penalties. For bank loans, this typically amounts to 1.5% of the loan amount if repaid before the lock-in period ends.

5. Valuation Fee
   An HDB valuation processing fee of $120 is required when requesting a valuation post-Option to Purchase (OTP). However, indicative valuations using AI tools are often available free of charge and can assist sellers in pricing their units competitively.

6. Administrative Fees
   Administrative charges related to processing the resale application usually amount to around $80.

7. Temporary Extension of Stay Fee
   If the seller needs more time to vacate after the sale, a $20 fee applies. This is typically borne by the buyer, so it does not increase the seller’s expenses.

HDB Selling Process in 2025 (Step-by-Step)

1. Register Intent to Sell

2. Calculate Estimated Sale Proceeds

3. List Flat for Sale

4. Arrange Viewings and Negotiate

5. Issue Option to Purchase (OTP)

6. Discuss Temporary Extension of Stay (if needed)

7. Buyer Exercises OTP and Pays Option Fee

8. Submit Resale Application

9. Engage a Conveyancing Lawyer

10. Endorse HDB Resale Documents

11. Pay Resale-Related Legal and Admin Fees

12. Receive HDB Approval Letter

13. Prepare for Completion Appointment

14. Attend Resale Completion Appointment

Key Considerations Before Selling Your HDB

• Know the Minimum Occupation Period (MOP) exceptions.

• Avoid overpricing—buyers are price-sensitive.

• Consider if it’s a good time to sell based on market conditions.

Costs of Selling a Condominium in 2025

1. Agent Commission
   The average agent fee for selling a condo is 2%, although it may be negotiable. A 1% commission on a $1 million sale could save the seller $10,000.

2. Legal Fees
   Legal costs typically range from $2,500 to $3,500. Lower-cost legal packages starting from $1,800 are available and cover essential documentation and legal services.

3. Seller’s Stamp Duty (SSD)
   If a private property is sold within four years of purchase, SSD applies as follows:

• Within 1 year: 12%

• Within 2 years: 8%

• Within 3 years: 4%

• After 4 years: No SSD

4. Early Redemption Penalty
   As with HDBs, early loan repayment may incur penalties—commonly 1.5% of the outstanding loan.

5. Valuation Fee
   Expect to pay $300–$500 for a professional valuation, though some banks and digital platforms provide indicative valuations free of charge.

6. Condo Maintenance Fees
   These fees are prorated based on the completion date of the sale. Sellers must settle dues up to the date of ownership transfer.

Condo Selling Process in 2025 (Step-by-Step)

1. Check Applicable SSD

2. Conduct Market Research and List Unit

3. Enhance Property Through Staging (Optional)

4. Find Buyers and Organise Viewings

5. Negotiate and Issue OTP

6. Engage Lawyer and Complete Transaction

7. Transfer Ownership and Settle All Dues

Important Factors Before Selling a Condo

• Assess whether you are subject to SSD.

• Determine if you can afford your next purchase.

• Understand the waiting period before buying an HDB (if applicable).

Conclusion
Understanding the financial responsibilities of selling a property in Singapore in 2025 allows homeowners to plan ahead and avoid unexpected costs. Whether selling an HDB resale flat or a private condo, being informed can help you make confident, financially-sound decisions during the transaction.

Algene Toh

Senior Real Estate Salesperson

Asset Investment Brokers Pte Ltd

Email: admin@bsr2.com

Phone: +65 9008 8002

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