In Singapore’s ever-evolving property market, the age-old question remains: Is it cheaper to buy a new launch condo or a resale condo? As we enter 2025, the answer isn’t as straightforward as it used to be. With rising construction costs, fluctuating interest rates, and ongoing cooling measures, buyers must weigh more than just the price tag.
Let’s dive into the key differences and cost considerations between new launch and resale condominiums in 2025.
Price Per Square Foot (PSF): Who’s Winning?
| New Launches New condos typically carry a premium PSF because of their modern amenities, first-mover advantages, and developer-marketed pricing. In 2025, new launch condos in Outside Central Region (OCR) average around $2,100–$2,300 PSF, while city fringe units (RCR) may exceed $2,600 PSF. | Resale Units Resale condos are generally priced 15%–25% lower PSF than new launches in the same district. For example, a resale condo in District 19 may transact at $1,700–$1,900 PSF, depending on age and condition. |
👉 Verdict: Resale condos are cheaper upfront—especially if you’re looking at units 5–15 years old.
Total Cost of Ownership: Beyond the PSF
While new launch condos are more expensive per square foot, they come with zero renovation costs and lower maintenance in the early years.
Resale units may require:
- $30,000–$70,000 in renovations
- Immediate replacement of fittings or appliances
- Higher sinking fund contributions (for older developments)
👉 Verdict: Resale is still cheaper, but factor in an additional 5–10% for renovation and maintenance.
Waiting Time vs Immediate Occupancy
| New Launch You’ll typically wait 2–3 years for Temporary Occupation Permit (TOP), during which you’re likely still renting or staying elsewhere. | Resale You can move in immediately—ideal for families or buyers avoiding rental expenses. |
👉 Verdict: If you’re renting while waiting for your new condo, the real cost difference narrows.
Financing & Loan Considerations
Both resale and new launch buyers are subject to:
- Loan-to-Value (LTV) limits
- Total Debt Servicing Ratio (TDSR)
But resale buyers can sometimes borrow more, as the property is already completed, with no progressive payment schedule. New launches follow progressive payment, which can ease cashflow early on but add up over time.
👉 Verdict: Resale offers simpler, lump-sum financing. New launches allow phased payments.
Capital Appreciation Potential
New launches often see a “first mover gain” of 10–20% by the time they are completed and begin resale. However, this is not guaranteed, especially with current cooling measures and oversupply in some districts.
Older resale condos may have limited upside if they’re already nearing peak valuation—unless there’s strong en bloc potential or major area transformation plans.
👉 Verdict: New launches have more capital upside, but resale is safer if you’re buying for own-stay.
Conclusion: Which One Is Cheaper in 2025?
| Criteria | New Launch | Resale Condo |
|---|---|---|
| PSF | Higher | Lower |
| Upfront Cost | High | Moderate |
| Renovation | None | $30K–$70K |
| Occupancy | 2–3 years | Immediate |
| Capital Upside | Higher (Potential) | Moderate |
| Rental Need While Waiting | Yes | No |
Final Thoughts:
- Choose resale if you want immediate occupancy, lower entry price, and don’t mind renovating.
- Choose a new launch if you can wait, prefer brand new fittings, and want higher future value.
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