Questions to ask before making a condo offer
The best time to challenge a condo price is before the option fee is paid. Use these questions to separate a strong unit from a strong sales pitch, then set an offer you can defend from the project evidence.
Published Jul 2026. Data is for research and comparison only.Start before the viewing glow wears off
A good viewing can make a buyer hurry. The unit feels brighter than the photos, the layout works, and the agent mentions another interested party on the way out. That is exactly when a written question list helps. It gives you something firmer than the fear of losing the unit.
The listing price should not be the first number you trust. Start with completed sales in the same project, then check the unit's floor area, floor band and likely condition against those deals. If the project has very few recent sales, say that plainly and widen the comparison with care.
You are not trying to calculate one perfect value. Property does not work that neatly. You are trying to find a sensible range, understand what could justify a premium, and know the point where enthusiasm starts overruling the evidence.
1. What has actually sold in this project?
Same-project sales are usually the cleanest starting point because the buyers were choosing the same address, facilities, management and general location. Look at the latest transactions rather than one old record. Compare total sale price and PSF together, and note the floor area and floor band where available.
A median is useful, but it can hide a wide spread. One project may have compact units trading at high PSF and large family units trading at lower PSF. Another may have only a handful of sales. Open the transaction history and see what is sitting behind the headline number before using it in a negotiation.
Ask the agent which completed sale is the closest match to the unit you viewed. Then ask why. A useful answer should mention size, floor, stack, condition or timing. If the answer jumps straight to a record sale with no resemblance to the unit, keep looking for a better comparable.
2. Am I reading total price and PSF together?
Total price tells you what the purchase does to your finances. PSF helps compare units of different sizes. Buyers get into trouble when they use whichever number makes the listing look cheaper. A low total price can hide an aggressive PSF, while a low PSF can come with a total price that stretches the household too far.
Suppose two units in the same area cost about the same. The smaller unit may carry the higher PSF because its total price fits more buyers. The larger unit may look cheaper per square foot but require much more cash and borrowing. Neither is automatically the better deal. The useful question is which tradeoff fits your plan and remains understandable to the next buyer.
Write both figures beside every serious option. Add floor area, tenure and the number of recent sales. That small habit stops one attractive metric from doing all the work.
3. What explains the premium on this unit?
Paying above the project median can be reasonable. A higher floor, quieter stack, open view, efficient layout or strong renovation may deserve more. The problem begins when the premium has no clear explanation beyond the seller's asking price.
Separate features that belong to the project from features that belong to the unit. MRT access, tenure and facilities support every unit in the development. Renovation, view and internal condition belong to this unit. That distinction matters because a future buyer may value the permanent features more than the finishes you like today.
Put a rough number beside the premium and ask what you are buying with it. If the unit is $150,000 above close transactions, the reason should feel substantial. A new kitchen may save renovation work, but it should not quietly carry the price of a better floor, larger area and stronger view at the same time.
4. How deep is the transaction evidence?
Ten similar sales give you a firmer anchor than one unusual sale. Transaction depth does not make every deal comparable, but it shows how often buyers and sellers have recently agreed on a price. A deep project history usually makes the reasonable range easier to see.
Thin evidence needs a wider confidence range. It does not mean the project is poor or unsellable. Boutique developments, tightly held freehold projects and very large units can trade infrequently for perfectly ordinary reasons. It does mean you should be slower about treating one transaction as the market.
When the project sample is thin, widen in stages. Look at the same road or immediate area, then similar tenure, age and unit size. District medians come later. A district can contain luxury towers, older apartments and small freehold projects that should never be used as direct substitutes for one another.
5. Does the rental market support demand?
Rental evidence is useful even if you plan to live in the unit. It shows what tenants have been willing to pay for the project and how regularly homes come through the rental market. That can reveal practical demand for the location in a way that a sales brochure cannot.
Do not turn rent into a shortcut for value. A high rent does not prove that any sale price is fair, and gross yield ignores maintenance, vacancy, tax and financing. Use rent as a second opinion. If the sale price is far above nearby alternatives while rent is ordinary, an investor should understand why the ownership premium exists.
For owner-occupiers, rent support still matters as an exit option. Life changes. A unit that can be rented at a sensible level may give the household more flexibility if work, family or relocation plans shift.
6. Are the nearby projects actually similar?
Distance alone does not make a good comparable. Two condos can sit across the road from each other and still differ in tenure, age, facilities, unit mix and buyer profile. A newer leasehold tower may trade differently from an older freehold development even though both share the same MRT.
Ask what a buyer would realistically choose instead at the same total budget. That is a better comparison set than every project inside the postal district. Keep the shortlist narrow enough to be meaningful, but wide enough to show whether the asking price is out of step.
When one project commands a premium, look for a pattern rather than an explanation invented for the listing. Do its other units also trade higher? Does rent support the gap? Is transaction activity healthy? A repeated market pattern carries more weight than a single agent's opinion.
7. What does tenure change for this purchase?
Tenure belongs in the comparison, but it should not end the conversation. Freehold can support long holding periods and may appeal to a wider group of buyers. Leasehold projects can still offer excellent locations, newer facilities or a lower entry price. The tradeoff has to appear somewhere in the price.
Compare freehold with freehold and similar leasehold projects before crossing between the two. If a leasehold unit is priced like a nearby freehold alternative, ask what makes up the difference. If the freehold option needs major work or has weaker day-to-day convenience, its tenure may not settle the choice by itself.
Your expected holding period matters too. A buyer planning to stay for decades may weigh tenure differently from someone expecting to move in five years. The page can show the tenure. You still need to decide how much it matters to your own timeline.
8. Can the purchase survive the cash schedule?
A fair price can still be the wrong purchase if the cash plan is too tight. Before offering, run the mortgage, stamp duty and affordability numbers using the price you expect to pay. Include legal fees, valuation costs, repairs and a buffer for the first months of ownership.
Do not treat CPF, cash and loan proceeds as one interchangeable pool. They arrive under different rules and at different stages. The option fee comes early, duties follow quickly, and completion can expose gaps that were easy to ignore while browsing listings.
Stress the monthly payment rather than accepting the first result. Try a higher interest rate and leave room for maintenance fees, property tax and ordinary household surprises. If a small change breaks the budget, lower the offer or change the shortlist before the seller's deadline makes the decision for you.
9. Who might buy this unit from me later?
You do not need an exit plan for a home you have not bought, but you should understand the likely buyer pool. Family-sized units, compact investment units and rare luxury homes attract different buyers. Their transaction frequency and price sensitivity can differ sharply.
Look at how often similar units sell, not just the project's total activity. A busy development may still have a slow-moving unit type. Awkward layouts, very high total prices or unusual maintenance costs can narrow the audience even when the address is popular.
Owner-occupiers can accept a less liquid home when it solves a personal need exceptionally well. Make that choice knowingly. The harder mistake is paying a broad-market price for a unit with a narrow future market and discovering the difference only when you need to sell.
10. What am I still missing about the building?
Transaction data cannot tell you everything. Ask about maintenance fees, recent major works, recurring defects, lift reliability, water ingress and any renovation restrictions that affect the unit. Walk the common areas and car park. A polished living room does not tell you how the building is being run.
Check the actual walking route to the MRT, schools and daily shops. A map pin can hide busy crossings, steep slopes or a route with no shelter. Visit at a second time of day if noise, traffic or school activity could affect the unit.
Ask the seller or agent direct questions and note what remains unanswered. You do not need every imperfection fixed. You do need enough information to decide whether the price already accounts for the inconvenience or future expense.
Turn the answers into an offer range
Set three numbers before negotiating. The first is an opening offer you can defend. The second is the price that still feels fair after reviewing the closest sales. The third is your walk-away number after duties, financing and planned work are included.
The range should come from evidence, not a standard percentage below asking. A two per cent discount can be too much on a well-priced unit and meaningless on an inflated listing. Give the agent a short reason tied to recent sales, size, PSF or condition. A clear explanation is more credible than a random low offer.
Keep the walk-away number private and respect it. If new information makes the unit stronger, you can revise the range. Do not raise it simply because another buyer may exist. A competing offer changes the chance of securing the unit, not the value of the unit to your household.
The final walk-away test
Before paying the option fee, explain the purchase without using the listing description. State the closest sale evidence, the total price and PSF, the reason for any premium, the tenure, the monthly cost and the likely alternatives. If that explanation holds together, the decision has a solid base.
Then ask a less technical question: if this unit disappears tomorrow, would you regret losing the home or regret losing the competition? Those feelings are easy to confuse during a fast negotiation.
Walking away from an unsupported price is not a failed purchase. It protects the budget and makes the next viewing easier to judge. When the right unit appears, you will already know which questions deserve answers.
Projects with deep sale evidence
These active projects are useful places to practise the checklist because their sale histories give buyers more than one transaction to examine.
Quick answers
Short answers based on the current data view.
What should I check before making a condo offer?
Start with recent sales in the same project. Compare total price and PSF, then check unit size, floor band, tenure, rent support and nearby alternatives.
Should I offer below the asking price?
Offer from the transaction evidence rather than using a standard discount. The asking price may already be fair, or it may sit well above close comparables.
When should I walk away from a condo?
Walk away when the price exceeds your cash plan or the premium cannot be explained by the unit, project or comparable sales. Competition alone is not a reason to break your limit.
Suggested properties
Project pages connected to this guide, with rent, sale, tenure and transaction signals.
