What happens to prices of condos that are not fully sold when they receive TOP

When a new Singapore condo project reaches its Temporary Occupation Permit (TOP) stage without being fully sold, developers typically face downward pressure on remaining unsold units' prices to clear inventory and avoid prolonged holding costs.

Key factors influencing this include:
- Price discounts or reductions: Unsold units are often offered at lower prices than initial launch levels to attract buyers, as seen in cases where transacted prices at certain condos have moderated post-launch, declining from peaks like $2,880 psf to lower averages.
- Market competition: With fewer new launches, remaining stock competes with resale condos, where islandwide average prices rose 4.2% y-o-y to $1,778 psf last year, but unprofitable projects highlight risks of price erosion if demand softens.
- Developer strategies: Sales can plummet without momentum (e.g., 88.2% m-o-m drop to 255 units in low-launch months), prompting aggressive pricing on uncompleted or TOP-ready projects like Ardor Residence, where even highs are hit selectively amid broader moderation.

Check EdgeProp Singapore for specific project sales data and current listings of TOP condos with unsold units to track real-time pricing trends.