Can I sell my house for 1 million?

To determine if you can sell your house for 1 million SGD, you need to consider several key factors that influence property prices in Singapore:

Market Demand and Supply

The balance between demand and supply significantly affects property prices. If there is high demand and limited supply in your area, you may have a better chance of selling at your desired price. However, if the market is saturated with similar properties, you might need to adjust your price expectations.

Location and Accessibility

The location of your property is crucial. Properties near MRT stations, reputable schools, shopping malls, and other amenities typically command higher prices. Proximity to the Central Business District (CBD) and major highways also increases property value.

Government Policies and Regulations

Government policies, such as cooling measures and land supply regulations, can impact property prices. These measures are designed to maintain a stable and sustainable property market, which could affect the selling price of your property.

Economic Conditions

The overall state of the economy, including GDP growth, employment rates, and interest rates, influences property prices. A strong economy with job growth and low unemployment can drive up demand for properties, while an economic downturn could reduce demand and prices.

Property Condition and Amenities

The condition, age, and amenities of your property also play a significant role. Well-maintained properties with desirable features such as good unit orientation, views, and modern design can command higher prices.

Current Market Trends

As of 2025, the rental market has started to cool down after a significant rise, and there are indications that tenants may have an upper hand. However, this does not necessarily mean that sales prices will drop dramatically. The sales market can be more resilient, especially if there is still strong demand from buyers looking to upgrade or invest.

To get a more accurate assessment, it would be advisable to:
- Check recent transaction prices of similar properties in your area on EdgeProp Singapore.
- Consult with a real estate agent who can provide a valuation based on current market conditions.
- Consider getting an appraisal to determine the fair market value of your property.

By taking these steps, you can make a more informed decision about the potential selling price of your house.