Typically new launches command a premium vis-a-vis nearby existing condos due to the new build status and a local phenomenon where buyers tend to prefer newer condos which has never been occupied. The facilities are also more up to date and for 99 year leasehold projects, typically a longer balance lease. Typically bank valuation is tougher to match with the sale price of resale properties.
May I have more info and requirements about your property and plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.
Ivan Ng Realtor
ERA Senior Marketing Director
ERA Top 600 Achievers in Year 2017 (Top 10%)
ERA Top 300 Achievers in 3rd Quarter 2017 (Top 5%)
SMU BBM (Finance), Magna Cum Laude
Proactive. Sincerity. Feedback.
Contact: (+65) 97432395
**Note: We are not prompted when you respond here, hence please get in touch directly. Look forward to hear from you soon! **
There are several reasons.
1) Assuming both new launch and surrounding condo is 99years leasehold projects, a newer project is likely to command a higher price.
2) New launch projects typically are smaller in size in comparison to older projects, therefore a smaller unit tend to have a higher $psf in comparison to a bigger unit.
I have sold resale units with good relative price in comparison to new launch too, and it was transacted within 1 week of marketing the property. Subjective to individual's reason of sale, understanding of the market and positioning of the product will be critical in a marketing assignment. The moment if supply is high, it will definitely be a tough call to be calling for a premium pricing unless there is certain underlying reasons for purchaser to be willing to pay a premium.
I have been in the real estate business since 2009, with more than 10years of experience serving the Singapore real estate market.
I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.
Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my clients’ portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.
With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.
We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!
Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!
Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.
Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore
Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/
New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/
My self introductory video on https://www.youtube.com/watch?v=uZ6REQfdGSw
**Aspring To Be The Best Real Estate Agent In Singapore
OrangeTee & Tie Pte Ltd
CEA Reg R014783H
Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772
Mark, your RIGHT choice
Mark, your RIGHT choice
No buyer will pay new launch showflat price for a old second hand condo .
As i do not have your contact , Kindly contact me joanne chia hp 8333 3327 for a no obligations chat for your property marketing needs .
My charges are 1% commission for exclusive ( sole agent ) selling rights to your property, or 2% for open listing ( as many agents as you wish ) .
Thank you and hope to hear from you soon .
No commission chargeable when I serve private property buyers.
Joanne chia .
Hp 8333 3327
To answer your questions, perhaps you could ask yourself some of these 3 simple questions?
If both properties are selling at the same psf$ (assuming $1200psf),
1) would you prefer to buy a resale property with balance lease 79 years, or new launch with fresh 99-year lease?
2) pay $1.44m for a 20-year-old 3BR resale condo (1200sqft), or $1.08m for a new launch 3BR condo (900sqft)?
3) would you prefer a condo with aging facilities, or a new launch condo where the facilities are new and modern?
Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305. I will be happy to assess and share with you the possibilities for you in the current market.