Sub-sale
What is a sub-sale?
A sub-sale is the sale of a private home by someone who bought it from the developer (or from an earlier buyer) before the development received its Certificate of Statutory Completion and strata titles. URA records three sale types: new sale (from the developer), sub-sale (before completion) and resale (after completion).
Key facts
- Sub-sale
- Sold by a buyer before the CSC and strata titles are issued for all units
- New sale
- Sold directly by the developer before the CSC and titles are issued
- Resale
- Sold by the developer or a later buyer after the CSC and titles are issued
- 3Q 2026
- 162 sub-sales, 3.1% of all private home sale transactions
- Seller's Stamp Duty
- Applies if sold within 4 years of purchase (homes bought from 4 July 2025)
As of 6 Nov 2026. Source: URA, MAS.
How the three sale types work
URA classifies every private home sale by who sells it and whether the development is finished. “Finished” here means the Certificate of Statutory Completion (CSC) and the strata titles for all units have been issued.
| Sale type | Seller | When |
|---|---|---|
| New sale | The developer | Before the CSC and titles |
| Sub-sale | A buyer who signed to buy from the developer, or a later buyer | Before the CSC and titles |
| Resale | The developer or any later buyer | After the CSC and titles |
Latest figures, 3rd quarter 2026
| Sale type | Transactions |
|---|---|
| New sales by developers (excluding ECs) | 1,183 |
| Resales | 3,801 |
| Sub-sales | 162 (3.1% of all sales) |
Example
You bought a new-launch condo for $1,500,000 in August 2025. In September 2027, before the CSC is issued, you sell it for $1,650,000. That is a sub-sale. You have held it for just over two years, so Seller’s Stamp Duty applies at 8%:
| Item | Amount |
|---|---|
| Sale price | $1,650,000 |
| SSD (8%, held more than 2 and up to 3 years) | $132,000 |
| Gross gain before SSD and other costs | $150,000 |
SSD wipes out most of the gain in this case.
Common mistakes
- Assuming a sub-sale is SSD-free. Most fall within the 4-year holding period.
- Mixing up sub-sale and resale data. URA counts them separately; check which you are comparing.
- Skipping legal advice. A sub-sale involves a home that is still being built under a developer’s contract, so have a conveyancing lawyer check the terms.
Frequently asked questions
Why would anyone sell before completion?
To take a profit or exit before the home is finished. A sharp rise in such short-holding sales, especially sub-sales of uncompleted units, was one reason given for raising Seller's Stamp Duty from 4 July 2025.
Do sub-sales pay Seller's Stamp Duty?
Yes, if the seller has held the home for four years or less (for homes bought on or after 4 July 2025). Because sub-sales happen before completion, most fall inside the SSD period.
How common are sub-sales?
They are a small share of the market. In the 3rd quarter of 2026 there were 162 sub-sales, 3.1% of all private home sale transactions, against 3,801 resales and 1,183 new sales.
Related terms
Sources
Every figure on this page was checked against the official government sources above on 6 Nov 2026. See our editorial policy.
This is general information, not financial, legal or tax advice.