Buying resale or new launch property

[abbby]

Which do you prefer? New launch I get newer leases, brand new finishing and modern architectural design. Resale there is ready rental and can look and feel the actual units.

[Lisafuller]

Both have their merits, but I’m partial to new launches. Wait a year or two for completion, and you can make a couple hundred thousand once it’s ready.

[sundaymorningstaple]

After Singapore loses it's Int'l cachet due to Covid, that may be a red herring. condo prices may collapse as well. I wouldn't bet a dime on the property market unless you have half a mil laying around you don't need that you can throw away if you bust. Already the government is talking about busting 75 percent of the population with the garbage being spewed about HDB should not be an asset making entity. Of course, those doing the spewing have already sold and made their huge profit off the HDB.

[abbby]

I'm rather surprised how the prices of properties has moved in the recent years. Especially with Covid..everything got so much more expensive and an average condo price is becoming $2,000 psf..even in outskirts location.

[PNGMK]

Abby - there is a supply side shortage due to restrictions on labour and material costs. Also land. I think we will see a climb up before any drop off.

As for new vs resale - it doesn't matter from an economic perspective - what matters is the entry price. You can make a killing on either type if the purchase price is right. You almost always make your money (in the short to mid term) on buying cheaply rather than selling at a high price.

[Lisafuller]

Abby - there is a supply side shortage due to restrictions on labour and material costs. Also land. I think we will see a climb up before any drop off.

As for new vs resale - it doesn't matter from an economic perspective - what matters is the entry price. You can make a killing on either type if the purchase price is right. You almost always make your money (in the short to mid term) on buying cheaply rather than selling at a high price.

Exactly. Buy low, sell high.

[ProvenPracticalFlexible]

How are you avoiding the additional buyers and sellers stamp duties?
Those at least for me totally kill the interest in Singapore additional property.
Or are you all US Citizens who are exempted.

[abbby]

absd is quite a huge turnoff