This is one of the most debated questions among Singapore home buyers. Although there is no universal right answer — it narrows to weighing several factors against your own priorities.
1. Price (PSF)
Resale is typically cheaper per square foot than new launches. But this isn’t an apple to apple comparison until you factor in the following:
Remaining tenure — a resale unit with 60 years left cannot be cross-referenced directly the same way as a fresh 99-year leasehold new launch.
Pre-harmonisation of units — developments approved before URA’s 1 June 2023 harmonisation implementations (in Development applications) may show a larger “sale” area versus the actual usable floor area, since old air-con ledges, planter boxes, and bay windows were counted differently.
A lower psf doesn’t always mean better value unless the above mentioned are accounted for.
2. Handover Condition
New launch — comes partially done up (flooring, basic fittings (e.g. electrical wirings, kitchen countertop, basin, stove, washroom sanitary fittings and sanitary wares), sometimes room wardrobes and selected cabinets), but you’ll still spend on other furnishing.
Resale — often requires full renovation, especially older units; some buyers even go as far as semi-demolition of partition walls to reconfigure layouts (if feasible).
Resale can mean higher upfront renovation costs that goes unnoticed at first glance.
3. Maintenance Fees
New developments generally have lower maintenance fees initially, but this can creep up over time.
Older condominiums often carry higher fees to cover ageing infrastructure.
Watch out for lump-sum special contributions — lift replacements, repainting works, roof top waterproofing — that can surprise resale buyers unexpectedly.
Always ask for the MCST’s financial health — existing sinking fund balance and any upcoming planned major works — before committing to a resale unit.
4. Exit Demand
Seller’s Stamp Duty (SSD) applies if you sell within the holding period — factor this into your exit timeline regardless of new launch or resale.
However, do ask yourself: will there still be resale demand for this unit in 10–15 years time? Location, connectivity, growth drivers, school proximity, and lease decay all affect this.
New launches in emerging districts may face uncertain demand until the area matures; resale units in established estates have a track record you can study.
5. Financing Considerations
New launch — progressive payment scheme, so your loan disburses in stages as construction progresses, easing initial cash flow.
Resale — full loan disbursement upfront; banks may also be more conservative on valuation/loan quantum for developments with shorter remaining leases.
This affects your cash flow planning significantly.
Bottom Line
Neither new launch nor resale is inherently superior — your decision should hinge on your investment horizon, risk appetite, and how much weight you place on certainty (resale’s track record) versus growth potential (new launch’s future trajectory).
Something to Consider
If price-per-square-foot wasn’t a factor at all, would you still choose the same option — new launch or resale? What are your priorities and have you ranked them for a clearer direction?