The Core Difference
New launch condos are purchased directly from the developer before or during construction. You pay a progressive payment schedule as construction milestones are hit, and you get the keys 3–5 years later. Resale condos are existing completed units bought from a private seller. You pay everything now and move in within months.
Both attract the same Buyer’s Stamp Duty (BSD) and, if applicable, the same ABSD. But the cashflow profile, what you’re buying sight-unseen vs. what you see is what you get, and the renovation considerations are fundamentally different.
Cost Breakdown: What You Actually Pay
| Cost Component | New Launch | Resale |
|---|---|---|
| Buyer’s Stamp Duty (BSD) | Up to 5% of purchase price — paid progressively as construction milestones hit | Up to 5% of purchase price — paid on purchase, within 14 days of OTP exercise |
| ABSD (if second property, SC) | 20% — paid upfront, refundable if existing home sold within 6 months of TOP | 20% — paid upfront on purchase |
| Legal fees | ~$2,500 (minimal at purchase; additional at TOP) | ~$2,500–$4,000 |
| Renovation | Usually required; bare unit | May be move-in ready; savings possible |
| Progressive payment period | Yes — paying mortgage AND possibly rent during construction | No — single transaction |
When you buy a new launch condo, you don’t pay the full price upfront. Payment is released in stages as construction milestones are completed — foundation, framework, walls, TOP, etc. This sounds easier on cashflow, but if you’re still living in a rented property or your current home simultaneously, you’re paying two housing costs at once during the construction period.
The Case for New Launch
You pick your unit before anyone else has lived in it
At launch, buyers choose their floor, stack, and facing from a full selection. High floor, unobstructed view, north-south orientation — you pick it before the first key is handed over. In a resale market, the unit you want may simply not be available.
Modern design and amenities
New launches are built for 2020s lifestyles — efficient layouts that maximise usable space, smart home features, co-working lounges, EV charging, better soundproofing. A 20-year-old resale condo may have a very different common facility profile.
Developer warranty
New launch units come with a one-year defects liability period where the developer is obligated to fix issues. There is no equivalent protection in a resale purchase.
ABSD remission for SC upgraders
Singapore Citizens buying a new launch while still owning their HDB can pay the 20% ABSD upfront and apply for remission — provided the HDB is sold within 6 months of the new launch’s Temporary Occupation Permit (TOP) date. This is only available for new launches, not resale condos.
Developer fact sheets are not guarantees. Projected appreciation figures on a developer’s marketing materials are not the same as realised returns. The area must actually develop as projected for the thesis to hold. Buy for your own occupation first, investment second.
The Case for Resale
What you see is what you get
You visit the actual unit, see the actual view, meet the actual neighbours, and check the actual condition of the flat. There is no uncertainty about what you’re buying. For families with children who need to be enrolled in school by a specific date, resale is often the only realistic option.
Price transparency
Resale transactions are publicly searchable on URA’s caveat data. You know exactly what every comparable unit in the same development transacted for in the last 12 months. In a new launch, you’re buying from a developer who controls all pricing information.
No dual-housing-cost period
Resale transactions complete in 3–4 months from OTP exercise. No 3–5 year construction wait during which you’re potentially paying rent on top of a mortgage.
Potential to buy below replacement cost
In some markets and locations, resale condos trade below the cost of new supply — particularly older developments in areas where no new launches are planned. This creates value that new launches by definition cannot offer.
How to Decide
● You can absorb 3–5 years of construction wait without timeline pressure
● You want a specific floor/facing/unit type that isn’t available resale
● You are an SC upgrader planning to use the ABSD remission window
● You prioritise brand-new amenities and developer warranty
● You need to move within 6 months
● You want to see exactly what you’re buying before committing
● You are comparing using real transaction data (see our $1M–$2M or $2M–$3M directories)
● The specific development you want has resale units available
New launch or resale — run the numbers for your situation
Tell Charles your budget, timeline, and whether you’re still in your HDB or current rental. He’ll give you an honest comparison of what’s actually available and what makes sense for your cashflow.
WhatsApp Charles Charles Yi Ming · R070355J · PropNex Realty Pte Ltd