Decoding the Condo Dilemma: New vs. Resale
We’ve Already Talked About the Basics, Now Let’s Get Real
We’ve covered the fundamental differences between brand‑new and pre‑owned units so far. But the real trick is diving into the nitty‑gritty. In any neighborhood, you’ll end up juggling a combo of fresh and used condos—or you might be forced to pit a shiny new launch against the nearby resale ones.
What Makes a Fair Comparison?
- Location Match: Make sure the new and resale units you’re comparing sit in similar spots—same street, same block, or even the same side of town.
- Size & Layout: A 202‑sq‑ft studio isn’t going to stack up against a 350‑sq‑ft family unit. Keep the square footage in line.
- Age & Condition: New builds are almost spotless, while older units may have a few snags. Factor in maintenance costs and renovation potential.
- Amenities & Features: Think gym, pool, parking, noise levels. A new condo might boast cutting‑edge tech, while a resale could have a well‑maintained balcony.
- Price Per Sqft: Tanween the numbers carefully—look at market trends, not just the sticker price.
- Future Development: New launches often come with planned community upgrades that could boost value over time.
Putting the Pieces Together
When you line up these factors side by side, you’ll see where a new condo truly shines—and where a resale might offer better bang for your buck. Remember: it’s all about the comparison, not the label.
1. List and compare prices of surrounding resale options
A typical approach is to compare developments within a one-kilometre radius of the new launch.
This isn’t really a hard and fast rule though; you could also compare between a shorter distance (e.g., 500 metres) – you might do so if it means staying within walking distance of a school, MRT station, mall, etc.
Many people like to compare by per square foot (psf) only, but that usually doesn’t tell the full story especially if there is a mix of resale comparables with different ages.
So you should also record down the overall price to compare properly – it doesn’t always mean a high psf means it should be ruled out automatically.
2. Compare prices based on similar unit sizes
Let’s say we’re considering two-bedroom units. We should do a price comparison, with similar-sized units in nearby resale condos.
For example, here’s how we would compare a two-bedder at One Pearl Bank, to the most similar-sized unit in Spottiswoode Residences.
The two-bed, two-bath unit here comes in at 797 sq.ft, which is 54 sq. ft. larger; but it’s the closest point of comparison.
(You’ll also notice that definitions such as “one-bedroom” or “two-bedroom” are quite vague. Older resale condos can have one-bedders that are the size of three-bedders, by today’s standards; that’s why it’s best to look at the actual square footage).
In Spottiswoode, a 797 sq. ft., two-bedroom unit on the 17th floor went for $1,568,000.
In One Pearl Bank, a 743 sq. ft. unit transacted at $1,780,000.
We can see the larger freehold Spottiswoode Residences are around 12 per cent cheaper.
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In itself, this isn’t surprising – a new launch condo will always be priced higher than their resale counterparts.
What we need to ask is whether this 12 per cent premium is worth paying (at the end of the whole comparison process).
You’ll also notice that, when making these comparisons, we stick to the most recent transactions possible.
You’ll want to keep to transactions within the past 12 months, as transactions from too long ago don’t account for factors like inflation).
We can repeat this process for any other resale condos within range.
3. Analyse the floor plans
Next, we’ll compare the specific floor plans between the new launch, and one of the nearby resale units.
For simplicity, let’s stick to comparing between the same units we discussed in step two:
Spottiswoode type B4
Spottiswoode Unit vs. One Pearl Bank: The Bottom Line
Why Spottiswoode Gets a Nod
- No wasted entrance – you step straight into the living zone, no hall to wander through.
- Square sweet‑spot – the layout feels like a perfect box, giving you plenty of room for your dining table – a perk that One Pearl Bank leaves flat.
- Hidden storage hero – a built‑in household shelter you’ll never see until you need it (and trust us, you’ll love it).
What’s Kinda Trouble‑making
- Big planter + bay window – expensive and often left unused – a ‘why bother’ factor for many buyers.
- Bathrooms with natural ventilation – great, but the AC being on the balcony feels a tad odd.
Seeing The Whole Picture
- Look out for planters, bay windows, and quirky layouts in older builds – they’re the surprise party guests that the new development might not have.
- Make a pros/cons list for every property – it’s the quickest way to decide if that new launch’s extra price tag is worth it.
Takeaway
Spottiswoode refines practicality and gifting storage space, but the high‑cost features can feel like a blind wish. Analyze the full list before you decide whether the premium is justified; a straightforward comparison will clear up the confusion.
4. Compare the liveable, or habitable, space
Liveable space – also referred to as habitable space – refers to space that’s not purely functional.
For example, an air-con ledge does count toward the total square footage you pay for – but it’s not liveable space, as you don’t eat, sleep, entertain guests, etc. on that ledge.
Note that areas such as toilets, kitchens, the household shelter, etc. are not considered liveable spaces (they’re referred to as functional spaces).
As you can see above, the difference in total square footage – between One Pearl Bank and a comparison unit at The Landmark – is 65 square feet. However, the difference in liveable space is only about 38.5 sq. ft.
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As a loose rule of thumb, most people will only feel a significant difference if the liveable space is 50 sq. ft. or larger (but note this differs between people).
Also note that comparisons can get tricky for certain layouts, such as dual-key units.
A dual-key unit almost always has less liveable space than an equal-sized counterpart, due to having extra functional spaces (e.g., a second kitchen, another toilet, and so forth for the second sub-unit).
For more help on this, use a tool like Attribuild that can help you compare between projects more easily.
They don’t have a full library of resale condos though, so don’t expect to find any for the more obscure developments.
5. If you can view the specific resale unit, consider the value of any renovation work done
Do consider if the resale units will save you money on any renovations. For example, if you want a kitchen island or walk-in wardrobe, the previous owners of a resale unit may already have it done.
This would save you however much a contractor would charge (although you need to ensure the condition is good)
On the other hand, the renovation work may also detract from the resale value. If you absolutely hate what the current sellers have done, then maybe it’s cheaper to go with the new launch – you will spare yourself the cost (and time) of having to hack up the old renovations.
New launches are usually in a “ready to move in” state, which makes renovations quicker and cheaper.
6. Once you’ve shortlisted your favourite units, zoom out and work out the wider details
At this point, for instance, we’re inclined to say the 12 per cent gap from a Spottiswoode unit looks more attractive. This is due to its attractive location just minutes away from two MRT stations, and extensive condo facilities. It’s also situated in a quiet enclave right next to a park.
Of course, Spottiswoode would be older by about 10 years once One Pearl Bank is completed; but with its lower quantum and convenient location, this freehold development would likely be more favoured in the long run as One Pearl Bank gets older.
Its lower quantum now also means more upside potential relative to One Pearl Bank, assuming One Pearl Bank’s prices stay put.
Remember that, throughout this process, home-ownership and investment are not always compatible goals
A Homebuyer’s Quandary: Numbers vs. the Gut
Ever stumbled upon a condo that feels like it was hand‑picked by destiny, but the price tag and stats are a little off‑beat? That’s the moment you pause and ask yourself: Is this a dream home or a strategic investment?
Dream Home? Go Ham.
- Feel the vibe. If the unit hummes your personal rhythm—think quiet, quirky, or just the right “wow” moment—don’t overthink the math.
- Keep the expectations realistic. Treat the purchase as a comfy nest that might droop a bit on market value later. Focus on the joy, not the ROI.
- Buy with a smile. After the hard part—finding the right place—satisfy the heart.
Investment First? Take a Step Back.
- Quantify the numbers. Do the yields, tax implications, and projected appreciation align with your goals?
- Temptation can be a trap. A unit that feels “right” might not tick the ROI box. Let your financial objectives steer the decision.
- Adjust your dream. If the market favors a different aesthetic or a different location, be open to changing the narrative.
In the end, balance the heart and the ledger. Whether you’re chasing a place that feels like home or a property that doubles as a clever investment, getting clear on your primary motive makes the choisir a smoother process.
Curious About “Black‑Spot” Condos?
Check out our deep dive on Unprofitable Condominiums: 6 Reasons Why The Tennery Fell Short for the ins and outs of the numbers that can trip up even seasoned investors.
Originally featured on Stackedhomes.
