What is a subsale?

A subsale occurs when an existing purchaser sells their unit to a new buyer before the project receives its Temporary Occupation Permit (TOP). Unlike a resale — where the seller has already taken possession and the property has its Certificate of Statutory Completion — a subsale unit has not yet been handed over by the developer. The buyer is purchasing the contractual rights to the unit, not a completed property.

In practical terms, the new buyer takes over the original Sale and Purchase Agreement (SPA) between the first purchaser and the developer. The developer must consent to the assignment, and the buyer steps into the shoes of the original purchaser for all remaining obligations and entitlements under the SPA.

Timeline: The Continuum before TOP

The Continuum is developed by Hoi Hup Realty and Sunway Developments on a freehold site at Thiam Siew Avenue, District 15. The expected TOP is 2027. As of April 2026, the project is under construction and developer sales have largely been completed. Units available on the market are primarily subsale units offered by individual owners.

Buying a subsale unit now means the buyer will take over the SPA and any remaining progress payments tied to construction milestones. The unit will be delivered upon TOP, the same as for the original purchaser.

Developer warranty: does it transfer?

Yes. Under Singapore's standard Sale and Purchase Agreement for new developments (prescribed under the Housing Developers (Control and Licensing) Act), the developer's defect liability period (DLP) runs from the date of vacant possession (TOP) — not from the date of the original SPA signing. The DLP covers defects in the unit for a specified period after handover, regardless of whether the current owner is the original purchaser or a subsale buyer.

This means a subsale buyer at The Continuum will receive the same developer defect liability coverage as a buyer who purchased directly during the launch.

Stamp duties for subsale buyers

Subsale buyers pay the same stamp duties as any property buyer in Singapore:

  • Buyer's Stamp Duty (BSD) — payable on all residential property purchases, calculated on the purchase price or market value (whichever is higher). The BSD rate schedule is progressive and set by IRAS.
  • Additional Buyer's Stamp Duty (ABSD) — applies if the buyer already owns residential property in Singapore, or is a non-citizen or non-PR. Rates vary by residency status and the number of properties owned. Buyers should check the current ABSD rate table on the IRAS website.

On the seller's side, if the original purchaser is selling within the Seller's Stamp Duty (SSD) holding period (currently 3 years from the date of the original purchase for residential property), SSD applies. This is the seller's obligation, not the buyer's, but it may affect the seller's pricing expectations.

What to check before purchasing a subsale unit

Buyers considering a subsale at The Continuum should review the following:

  • Floor and stack orientation — Confirm the exact unit number, floor level, facing direction and any permanent obstructions (other blocks, external structures). The unit introduction brochure (PDF) contains site plan and floor plan details.
  • Remaining progress payments — Determine what percentage of the purchase price has already been paid by the original owner and what milestones remain. The buyer will need to fund the remaining payments according to the construction schedule.
  • Developer defect liability — Confirm the DLP terms in the SPA. The warranty passes to the new owner but it is prudent to review the specific provisions.
  • Legal assignment — A subsale requires the developer's written consent to assign the SPA. Both buyer and seller will typically engage solicitors to handle the assignment documentation.
  • Loan eligibility — Check with your bank or mortgage broker on financing for subsale units. Some banks treat subsale purchases differently from completed resale units in terms of loan-to-value ratios and disbursement schedules.

Buyers should engage a qualified property lawyer and conduct their own due diligence before committing to any subsale purchase. This article is for general information only and does not constitute legal or financial advice.