New Launch vs Resale

Price comparison between new launch and resale by segment

How to Read the New Launch vs Resale Insight

Key Takeaways

  • This insight is powered by live URA and HDB transaction data refreshed monthly.
  • Use the district filter above the chart to narrow results to a specific planning area.
  • Hover any data point on the chart for exact values and transaction counts.

What It Does

The New Launch vs Resale insight tracks the PSF price gap between new-launch private condominiums (developer sales) and resale properties (sub-sale and resale caveats) across Singapore's three market segments: CCR (Core Central Region), RCR (Rest of Central Region), and OCR (Outside Central Region). The primary chart plots the rolling median PSF for new launches and resale separately, and a secondary indicator shows the new-launch premium as a percentage above resale. The view can be filte...

Why It Matters

The new-launch premium in Singapore is structural but variable. New launches consistently sell above resale comparables in the same district because buyers value developer newness, modern specifications, and the deferred payment profile of progressive payment scheme. However, the size of this premium fluctuates significantly through the property cycle — from near-zero in slow markets to 25–35% in hot launch environments. An investor buying a new launch at a 25% premium to resale is imm...

How It Works

  • Select a district from the filter or leave it blank to view Singapore-wide data.
  • Use the time-range buttons (1Y/2Y/3Y/5Y/All) to adjust the chart window.
  • Hover any point on the chart to see exact values and underlying transaction counts.
  • Review the KPI cards above the chart for headline numbers at a glance.

Examples

OCR new-launch premium at cycle peak: evaluating a 2023 new launch

Inputs
Segment
OCR
Bedroom
2-bedroom
Metric
New launch vs resale PSF gap
Time point
Q3 2023 (launch period)
Results
OCR new-launch 2BR PSF (Q3 2023)
~$2,150
OCR resale 2BR PSF (Q3 2023)
~$1,720
New-launch premium
+25.0%
Historical OCR premium average
~10% (2015–2020 average)

How to read this: A 25% new-launch premium in Q3 2023 is more than double the historical OCR average premium of ~10%. An OCR investor buying a new launch at $2,150 PSF in Q3 2023 is betting that resale values rise from $1,720 to at least $2,150 by the time the unit completes (typically 3–5 years). If resale values normalise toward their historical trend instead of chasing new-launch prices, the investor faces a substantial mark-to-market loss at completion — and sub-sale buyers will only purchase at a price reflecting the resale comparable, not the new-launch premium they originally paid.

RCR premium compression: resale catching up in a recovery cycle

Inputs
Segment
RCR
Bedroom
All types
Time range
2019–2024
Question
When did resale catch up to new-launch PSF?
Results
RCR new-launch premium 2019
~18%
RCR new-launch premium 2022
~6% (resale surged, almost caught up)
RCR new-launch premium 2024
~12% (re-widening as new launches re-price)
Implication
Resale buyers in 2019 at a 18% discount to new launches saw full convergence by 2022

How to read this: The RCR new-launch premium compressed from 18% in 2019 to just 6% in 2022 as the rental surge drove resale price appreciation that nearly matched new-launch price escalation. Buyers who purchased RCR resale in 2019 at an 18% discount to new launches benefited from full premium convergence — their resale purchase effectively delivered new-launch equivalent price performance as the market caught up. The re-widening to 12% by 2024 (as developers launched new RCR projects at elevated prices) has created a new window where resale buyers can again enter at a 12% discount to new-launch comparables — a more normal spread than the 2022 trough.

Tips & Pitfalls

Expert Tips

  • Compare 2–3 districts side-by-side to spot relative outliers rather than reading a single number in isolation.
  • Always check the transaction count alongside any price metric — small sample sizes can produce misleading averages.
  • Pair this insight with the related calculators and maps below for a complete decision framework.

Common Pitfalls

  • Interpreting short-term movements (under 1 year) as trends — Singapore property data is noisy and needs a longer window.
  • Ignoring the difference between median and mean — means are pulled by luxury outliers in prime districts.
  • Forgetting that new-launch prices are often subsidised by developer discounts not visible in headline data.

Frequently Asked Questions

Where does the data come from?
Data is sourced from the Urban Redevelopment Authority (URA) and Housing & Development Board (HDB) official APIs, refreshed monthly.
How often is this insight updated?
The underlying transaction data is synced monthly from URA and HDB. The charts recompute live as new data arrives.
Can I filter by district?
Yes — use the district filter above the chart. You can also share a deep link to a specific district via the URL.

Related Resources

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