Resale condos, new launch condos, and post-launch condos are all popular choices for individuals looking to purchase a condo in Singapore. Each option has its advantages and disadvantages, and the decision on which to choose will depend on individual preferences and priorities. Below is a detailed comparison of these three options.

1. Resale Condos

Resale condos are condos that have been previously owned and are being sold by the current owner. These condos can be older and may require more maintenance than new or post-launch condos. However, resale condos also have their advantages, including:

• Prime Location: Resale condos are usually located in mature estates, which are well-established and have good access to amenities such as schools, hospitals, public transportation, and shopping centres.

• More Affordable: Resale condos are typically more affordable than new launch or post-launch condos, as they have already gone through the initial depreciation and may have been paid off or have a smaller loan amount.

• Ready for Immediate Occupation: As resale condos are ready for immediate occupation, the buyer can avoid the wait and uncertainty associated with new and post-launch condos.

• According to data from the Urban Redevelopment Authority (URA), the average resale price of non-landed private residential properties in Singapore was S$1,687 per square foot in Q4 2021, while the average price for new sale properties was S$1,903 per square foot.

• Resale condos in prime locations such as Districts 9, 10, and 11 are generally more expensive than those in other areas. For example, a 1,238 square feet resale condo in District 9 was sold for S$3.7 million in January 2022, while a 2,013 square feet resale condo in District 23 was sold for S$1.35 million in the same month.

• Resale condos may also come with a leasehold tenure of varying lengths. For example, a resale condo in Pasir Ris with a 99-year leasehold was sold for S$1.5 million in February 2022, while a resale condo in Marine Parade with a 999-year leasehold was sold for S$1.8 million in the same month.

2. New Launch Condos

New launch condos are condos that are newly built and have not been previously occupied. These condos offer a range of benefits, including:

• Modern Design and Features: New launch condos are designed with modern features, layouts, and amenities, making them attractive to buyers looking for contemporary living spaces.

• Potential for Capital Appreciation: New launch condos are often priced lower than resale condos and have the potential to appreciate in value over time, providing buyers with a good return on investment.

• Choice of Units: Buyers can choose from a wide range of units with different layouts, sizes, and views, giving them more options to find a condo that suits their needs and preferences.

• According to data from the URA, there were 3,524 new private homes sold in Singapore in 2021, which is a 44.4% increase compared to 2020.

• One example of a new launch condo in Singapore is the Klimt Cairnhill, which is located in District 9 and was launched in January 2022. The condo features a modern design with a sky terrace, swimming pool, and gym, and the units range from one to four bedrooms with sizes from 517 to 1,733 square feet. Prices for the units start from S$2.2 million.

• New launch condos may also come with additional perks or incentives, such as free maintenance fees or furniture vouchers, to entice buyers.

3.. Post-Launch Condos

Post-launch condos are condos that have been launched for sale but are still under construction or have just been completed. These condos offer the following benefits:

• Potential Discounts: Developers may offer discounts or promotions to attract buyers during the post-launch phase, making them more affordable than new launch condos.

• Customization Options: Buyers may have the opportunity to customize their unit by choosing finishes, fixtures, and layouts, making the condo more personalized.

• Potentially Higher Rental Yield: As post-launch condos are newer, they may attract higher rental yields than resale condos.

• According to data from real estate consulting firm OrangeTee & Tie, there were 7,646 unsold private homes in the post-launch stage as of Q3 2021.

• One example of a post-launch condo in Singapore is The Avenir, which is located in District 9 and was completed in 2020. The condo features luxury facilities such as a 50-meter lap pool, tennis court, and sky garden, and the units range from one to four bedrooms with sizes from 527 to 2,411 square feet. Prices for the units start from S$2.5 million.

• Post-launch condos may also come with flexible payment schemes, such as deferred payment or progressive payment plans, to help buyers manage their finances.

Overall, the choice between resale condos, new launch condos, and post-launch condos in Singapore depends on factors such as budget, location, design, tenure, and investment goals. Buyers should do their research and consider all options before making a decision.

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