New Launch vs Resale Condos in Singapore: Which Should You Buy?
Last updated: 24 Aug 2025 • by CondoListing.sg
Should you buy a shiny new launch condo straight from the developer, or a resale condo on the open market? Both have pros and cons — here’s the full breakdown for buyers in Singapore. If this is your first purchase, you may also want to read our complete guide to buying a condo in Singapore.
1) What is a new launch condo?
A new launch is a private condo project directly sold by a developer, often before construction is complete. Buyers sign the statutory Sale & Purchase Agreement and follow the progressive payment scheme as construction milestones are achieved.
Information on each project is provided in the URA Home Buyer’s Guide.
2) What is a resale condo?
A resale condo refers to an existing private condo unit sold by a current owner on the open market. Transactions follow the IRAS stamp duty rules and are usually completed in 8–12 weeks.
3) Benefits of buying a new launch
- Brand new facilities: Everything is unused, with a defects liability period after TOP.
- Progressive payment: You only pay as construction advances (MAS rules).
- Potential appreciation: Early buyers often benefit from price increases closer to completion.
- Developer promotions: Early bird discounts and furnishings packages are common.
- Resale condos near MRTs tend to hold value better. Our guide on condos near MRT stations explains why.
4) Benefits of buying a resale condo
- Immediate move-in: No waiting — collect keys once the sale completes.
- See what you get: You can inspect the actual unit, layout, and views.
- Rental income: Units can be rented out right after purchase.
- Price negotiation: More room to bargain compared to fixed developer pricing.
- Mature locations: Many resale condos are in established neighbourhoods with amenities already built.
5) Key downsides to consider
New Launch Downsides
- Waiting time (3–4 years until completion)
- Uncertainty about final quality until handover
- Higher initial ABSD if upgrading (unless remission applies — see IRAS ABSD remission conditions)
Resale Downsides
- Older facilities and wear & tear
- Higher maintenance fees in ageing developments
- Shorter remaining lease for 99-year condos (check with SLA lease info service)
6) Who should buy what?
It depends on your goals:
- First-time buyers: New launches offer warranties and modern layouts.
- Upgraders: Resale may be more practical if you need space immediately.
- Investors: Resale condos can generate instant rental income; new launches may yield capital gains.
- Foreign buyers: Both options are allowed, but remember foreign ABSD rates (60%).
Tip: Always calculate affordability with MAS TDSR rules and check BSD/ABSD on the IRAS calculator.Beyond purchase price, always factor in monthly maintenance fees to avoid surprises.
7) FAQ
Which is cheaper: new launch or resale?
Resale condos are usually cheaper per square foot, but new launches may offer better long-term appreciation.
Do foreigners have different rules?
Foreigners can buy both, but must pay 60% ABSD (IRAS).
What about lease decay?
Resale condos with short remaining leases may face financing restrictions. Check lease balance with the SLA portal.
Which is better for rental?
Resale = immediate income. New launch = potentially higher rents after completion.