Singapore Condo Guide: New Launch vs. Resale (2026)

At a Glance

• New Launch: Lower initial financial burden with the Progressive Payment Scheme (PPS) and a 1-year defect warranty, but requires a 3–4 year wait for completion.
• Resale: Immediate move-in or rental income and generally larger floor areas, but requires a 25% downpayment upfront and potential renovation costs.
• Tax Warning: The 60% Additional Buyer’s Stamp Duty (ABSD) for foreigners remains a significant barrier; consider purchasing after obtaining Permanent Residency (SPR).

Living in Singapore with children often brings you face-to-face with a very practical concern: housing. Watching exorbitant rents go out every month, it’s only natural to wonder, "Would it be better to just buy a place?" As we move into 2025 and 2026, interest rates are beginning to stabilize, leading to a noticeable increase in families considering homeownership.

However, the Singapore real estate market operates quite differently from other countries, which can be confusing. The first big hurdle is deciding whether to buy a brand-new condo (New Launch) or an existing one (Resale). Based on my own research and market analysis, here is a breakdown of the Singapore property market as of 2026.

New Launch: The Excitement of a New Home and Financial Flexibility

A "New Launch" refers to buying a unit before it is built, typically after visiting a showflat. While this is common in many markets, the key advantage in Singapore is the payment structure.

• Progressive Payment Scheme (PPS): You pay for the property in stages as the building is constructed. For example, you might pay 10% when the foundation is laid and another 10% when the structural framework is finished. This significantly reduces the initial mortgage interest burden before you move in.
• Defects Liability Period (DLP): The developer is responsible for fixing any defects free of charge for the first 12 months after completion. Since it’s a brand-new home, you also save significantly on interior renovation costs.
• Modern Facilities and Smart Homes: Most 2026 new launches come standard with energy-efficient appliances and smart home systems. Facilities like swimming pools and gyms are also much more modern and luxurious.
• Potential for Capital Gains: Buying at "VVIP Preview" prices often means the property value has already appreciated by the time it reaches the Temporary Occupation Permit (TOP) stage.

However, there are clear downsides. You typically have to wait 3 to 4 years for completion. During this time, you still need to pay rent for your current home, so you must factor in this opportunity cost. Additionally, newer units tend to have slightly smaller floor areas compared to older developments.

Resale: Practicality, Space, and Immediate Move-in

If you dislike waiting and need more space immediately, a resale condo might be the right choice. This involves buying an existing property that you can inspect in person.

• Immediate Move-in or Rental Income: You can move in or start collecting rent as soon as the legal process is finalized (usually 8 to 12 weeks). Saving over SGD 6,000 a month in rent is a massive financial advantage.
• Larger Living Spaces: Resale condos that are 10 to 15 years old often feature much more generous living rooms and bedrooms than new builds. For families with children, this extra space can significantly improve quality of life.
• Proven Environment: You can check for noise issues, meet the neighbors, and see how well the estate is managed before committing. There’s no "luck of the draw" involved.
• Price Negotiation: Unlike new launches with fixed developer prices, resale prices are often negotiable through bargaining with the current owner.

On the downside, resale units require a larger upfront cash outlay. You need to prepare a 25% downpayment (5% cash + 20% CPF/cash) all at once, and mortgage repayments start immediately. Furthermore, older units may require unexpected repairs for plumbing or electrical issues, which could cost SGD 30,000 to SGD 50,000 or more.

Payment Process Comparison: New Launch vs. Resale

Here is a summary of the cash flow differences between the two methods to help with your budgeting.

2026 Market Outlook and Tax Considerations

The Singapore government currently maintains strict cooling measures to prevent the property market from overheating. The 60% Additional Buyer’s Stamp Duty (ABSD) for foreigners is particularly daunting. For a property worth SGD 2,000,000, the tax alone would be SGD 1,200,000.

• The Power of Permanent Residency (SPR): Once you become a Permanent Resident, the ABSD for your first property drops to just 5%. This is why many expats wait until they secure their SPR status before buying.
• Interest Rate Trends: As of early 2026, fixed-rate mortgage products have stabilized around 1.14% to 1.5%. Most buyers currently prefer fixed rates over floating rates.
• Price Forecast: Experts predict a modest growth of about 3% to 4% in private residential prices for 2026. While a sudden surge is unlikely, the market remains resilient with no signs of a significant downturn.

💡 Essential Tips for Success

Finally, here are three practical tips I always share with friends:

• Check MCST Minutes: When buying a resale condo, always request the last three years of Management Corporation Strata Title (MCST) meeting minutes. This reveals recurring issues like pool leaks or plans for a "Special Levy" (extra maintenance fees) for major repairs.
• Consider Sub-sales: If you want a brand-new home but can't wait four years, look for "sub-sale" units. These are units bought during a new launch that the original buyer sells before completion, offering the perks of a new build with a shorter wait time.
• Use a TDSR Calculator: Singapore strictly limits the Total Debt Servicing Ratio (TDSR) to 55%. Your first step should always be getting an In-Principle Approval (IPA) from a bank to see exactly how much you can borrow based on your income.

Buying a home in Singapore is a major financial commitment, but with careful preparation, it can be a rewarding investment for your family's future. If you have any questions, feel free to leave a comment!

References

• PropertyGuru: Singapore Property Market Outlook 2026
• URA: Private Residential Property Price Index
• IRAS: Stamp Duty for Residential Property
• MAS: Housing Loans and TDSR Framework

Exchange rate reference: 1 SGD ≈ 1,150 KRW (As of February 6, 2026)