New Launch or Resale?
Updated: Mar 10, 2021
Let us take a look at the following example of Resale Condo 8 @ Mount Sophia and New Launch Martin Modern.
For Martin Modern, both units are 1087 sqft and 1 level apart. In just slightly more than a year, this new launch appreciates $710psf!!!
This means that if the owner of unit #02-02 decides to sell the property now, he will profit (not including SSD):
$710 X 1087 = $771,770!!!
For resale property, price appreciation is not as fast as new launches due to a number of reasons (e.g. age of property, owner expectations, market movements). Our advise is that if you are solely looking for investment purposes, go for new launches. There are some new launches with really good potential that we strongly recommend all our family and friends to go for it if they can manage their finances.
However, we sometimes do recommend resale property to our Clients. This is usually for those Clients that are looking to purchase a specific location for various reasons (e.g. to be within 1KM to specific schools, to be near to elderly parents, or personal preferences for certain areas in Singapore, retirement home).
Whether to buy new launch or resale depends on your needs. However, 90% of the time we will recommend new launches due to the huge upside it brings. We have helped countless Clients ride the waves of the first-movers advantage to generate a huge profit in a short amount of time. Many of our Clients are now multiple property owners with monthly passive income.
Let us look at some data of the resale and new launch market movement: