District 15 Resale vs New Launch Condos – Analysing Price Gaps for Larger Family Units

District 15 has always been a favourite for families. From Meyer Road’s ultra-exclusive offerings to the lifestyle hub of Katong, you’ll find some of Singapore’s most in-demand private condos, and some built at a time when a three-bedder could rival a four or even five-bedder in size today. 

Older projects often come with sprawling layouts, full-sized yards, and sizeable bedrooms – features that developers have shaved down in modern condos to keep the overall quantum palatable. At the same time, newer three- and four-bedders bring greater efficiency, updated facilities, and the assurance of a longer lease.

So, for buyers planning to live in District 15, does it make sense to buy new or stick with the resale options? Let’s have a look:

We’ll begin with the general price trend for D15

(If you’ve previously read our article on the new launch/resale price gap for one and two-bedders in D15, this information on the overall district is similar.)

Year	New Sale	Sub sale and resale	% difference
2014	$1,609	$1,230	30.73%
2015	$1,638	$1,222	34.11%
2016	$1,742	$1,209	44.07%
2017	$1,756	$1,306	34.50%
2018	$1,968	$1,325	48.54%
2019	$2,342	$1,317	77.78%
2020	$2,199	$1,321	66.42%
2021	$2,351	$1,458	61.26%
2022	$2,390	$1,575	51.69%
2023	$2,549	$1,711	48.99%
2024	$2,683	$1,805	48.66%

Overall, the price gap between new launches and resale units has widened by almost 18 per cent from 2014 to 2024. The biggest gap came in 2019, when new projects were about 78 per cent higher. This was largely due to the launches of Seaside Residences and Amber Park, which were high-priced launches that drove up the gap that year. 

There was then a brief struggle when the COVID pandemic struck in 2020, but its aftermath drove up housing prices across the market, not just in D15.

With this broad trend in mind, let’s break the numbers down by bedroom type:

3-bedroom units

Year	New Sale	Sub sale and resale	% difference
2014	$1,596	$1,166	36.93%
2015	$1,561	$1,164	34.09%
2016	$1,617	$1,150	40.61%
2017	$1,686	$1,200	40.55%
2018	$1,809	$1,259	43.65%
2019	$2,149	$1,277	68.31%
2020	$2,015	$1,272	58.42%
2021	$2,325	$1,426	63.08%
2022	$2,356	$1,532	53.83%
2023	$2,510	$1,651	52.02%
2024	$2,630	$1,733	51.77%

The price gap for three-bedders started at around 37 per cent in 2014 and reached just above 51 per cent by 2024. As is the usual pattern, the gap peaked in 2019, for the aforementioned reasons. 

The gap narrowed somewhat in the following years, but it has never dropped below a 50 per cent gap since 2020.

4-bedroom units

Year	New Sale	Sub sale and resale	% difference
2014	$1,520	$1,310	16.01%
2015	$1,373	$1,301	5.55%
2016	$1,603	$1,252	27.96%
2017	$1,722	$1,330	29.53%
2018	$2,145	$1,425	50.56%
2019	$2,332	$1,414	64.92%
2020	$2,318	$1,378	68.18%
2021	$2,192	$1,609	36.28%
2022	$2,376	$1,740	36.55%
2023	$2,453	$1,831	33.94%
2024	$2,568	$1,965	30.73%

Because four-bedders are high quantum units with fewer transactions, we naturally see more volatility. 

In 2014, the premium for new launches was just 16 per cent, before narrowing to as little as 5.5 per cent in 2015. From there, however, the gap widened sharply, climbing past 50 per cent in 2018 and peaking in 2020 at over 68 per cent.

After that, the gap fell again, to about 31 per cent by 2024. 

5-bedroom units

Year	New Sale	Sub sale and resale	% difference
2014	$1,180	$1,405	-16.01%
2015	$1,307	$1,131	15.56%
2016	$1,680	$1,100	52.76%
2017	$1,669	$1,191	40.17%
2018	$1,453	$1,397	4.03%
2019	$2,384	$1,059	125.15%
2020	$2,488	$1,117	122.74%
2021	$2,509	$1,575	59.29%
2022	$2,356	$1,974	19.34%
2023	$2,489	$1,777	40.07%
2024	$2,689	$1,931	39.24%

We still see a consistent pattern across all bedroom types: the price gap between new launches and resale condos widened from 2014 to 2024, generally ranging between 12 and 55 per cent. 

Among them, five-bedders recorded the steepest increase, with the gap expanding by around 55 per cent over the decade.

For most unit types, the largest divergence came in 2019, when new launch prices surged ahead of resale. The exception was four-bedders, where the peak gap occurred a year later. 

However, the real issue to consider is total cost (quantum), as a lower $PSF alone doesn’t always mean a unit is affordable.

Let’s take a look at the quantum of these three-bedders and larger units:

3-bedroom units

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$1,855,777	$1,688,608	$167,170	9.90%
2015	$1,892,396	$1,674,174	$218,221	13.03%
2016	$1,998,444	$1,638,990	$359,455	21.93%
2017	$1,995,634	$1,735,537	$260,097	14.99%
2018	$2,072,098	$1,721,132	$350,967	20.39%
2019	$2,436,513	$1,821,490	$615,024	33.76%
2020	$2,328,720	$1,817,321	$511,399	28.14%
2021	$2,635,936	$2,024,867	$611,069	30.18%
2022	$2,829,339	$2,198,934	$630,405	28.67%
2023	$2,646,636	$2,306,076	$340,560	14.77%
2024	$2,702,053	$2,481,204	$220,849	8.90%
% increase from 2014 to 2024	45.60%	46.94%

For three-bedders, resale units slightly outpaced new launches in terms of percentage growth. The resale units were up 46.94 per cent from 2014 to 2024, compared to 45.60 per cent for new units.

That said, there were years when the gap between the two was still substantial. In 2022, for instance, new three-bedders were priced over $630,000 higher than their resale counterparts. But for half of the past decade, the price difference has stayed below 20 per cent, showing the premium for new launches isn’t consistent in this category.

4-bedroom units

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$2,742,204	$2,693,442	$48,762	1.81%
2015	$2,923,000	$2,743,742	$179,258	6.53%
2016	$2,960,500	$2,648,526	$311,974	11.78%
2017	$3,073,928	$2,714,490	$359,438	13.24%
2018	$3,297,360	$2,830,238	$467,122	16.50%
2019	$3,993,756	$2,999,970	$993,786	33.13%
2020	$4,361,553	$2,871,062	$1,490,491	51.91%
2021	$3,983,282	$3,337,560	$645,722	19.35%
2022	$3,927,077	$3,927,417	-$340	-0.01%
2023	$3,469,354	$3,725,641	-$256,287	-6.88%
2024	$3,420,598	$3,959,689	-$539,091	-13.61%
% increase from 2014 to 2024	24.74%	47.01%

Resale four-bedders have significantly outpaced new launches in terms of price growth, rising by 47.01 per cent compared to just 24.74 per cent for new units.

From 2022 onwards, resale four-bedders have actually been priced higher than new launches, despite their lower average $PSF.

This reversal is likely linked to unit sizes: many resale four-bedders in District 15 are substantially larger, which drives up overall quantum even if their PSF is lower.

We’ll touch on this later, but to briefly explain: in the recent Emerald of Katong, the four-bedders ranged from just 1,152 sq ft to 1,313 sq ft. In contrast, older projects in D15, like The Makena and Mandarin Gardens, can have units that span from 1,600 sq ft to even over 2,000 sq ft.

Even so, the disparity has swung widely at times. In 2020, new launch four-bedders were almost $1.5 million more expensive than resale, while just a few years later, the trend flipped back in favour of resale. This is not entirely uncommon when dealing with larger high quantum units though, as transaction volumes tend to be lower and hence a bit more volatile and dependent on the timing of the new launches. 

5-bedroom units

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$1,735,167	$7,350,000	-$5,614,833	-76.39%
2015	$1,590,000	$2,794,444	-$1,204,444	-43.10%
2016	$2,363,667	$2,818,688	-$455,021	-16.14%
2017	$2,371,000	$4,177,667	-$1,806,667	-43.25%
2018	$2,393,000	$4,433,167	-$2,040,167	-46.02%
2019	$5,587,656	$2,325,250	$3,262,406	140.30%
2020	$5,562,660	$3,136,444	$2,426,216	77.36%
2021	$5,555,000	$4,998,889	$556,111	11.12%
2022	$4,953,474	$5,100,000	-$146,526	-2.87%
2023	$4,997,839	$6,020,000	-$1,022,161	-16.98%
2024	$4,566,264	$4,256,000	$310,264	7.29%
% increase from 2014 to 2024	163.16%	-42.10%

Again, we see greater volatility because these big-ticket transactions are rarer. In many years between 2014 and 2017, there was only a single resale transaction recorded. 

For example, in 2014, the lone resale five-bedder sold was a massive 5,231 sq ft unit at Peach Garden, naturally pushing the overall resale quantum far higher than typical new launches.

We can say that from 2014 to 2024, new launch prices jumped by over 163 per cent, while resale values actually fell by 42.1 per cent; but unfortunately, these numbers are less representative than the others, due to the low transaction volumes.

But how large are these units, and what’s the size difference between new and resale?

Here are the size differences from known transactions:

3-bedroom units

Year	New Sale	Sub sale and resale	Difference
2014	1167	1458	-290
2015	1218	1444	-225
2016	1235	1440	-205
2017	1178	1466	-288
2018	1142	1379	-237
2019	1132	1436	-305
2020	1151	1444	-293
2021	1131	1433	-302
2022	1197	1446	-249
2023	1054	1413	-359
2024	1030	1454	-425

4-bedroom units

Year	New Sale	Sub sale and resale	Difference
2014	1682	2030	-349
2015	2185	2113	73
2016	2016	2119	-103
2017	1795	2023	-227
2018	1527	1999	-473
2019	1684	2145	-460
2020	1846	2088	-243
2021	1762	2079	-317
2022	1633	2246	-613
2023	1413	2071	-658
2024	1329	2027	-698

5-bedroom units

Year	New Sale	Sub sale and resale	Difference
2014	1489	5231	-3742
2015	1216	2471	-1255
2016	1407	2562	-1155
2017	1421	3463	-2042
2018	1647	2682	-1035
2019	2296	2193	103
2020	2239	2791	-552
2021	2215	3011	-797
2022	2090	2583	-493
2023	2011	3007	-996
2024	1671	2182	-511

As we’ve mentioned above, new launches tend to have smaller average unit sizes compared to resale counterparts. Apart from GFA harmonisation, developers have had to build smaller, to ensure the overall price (not so much the $PSF) is palatable.

Now we can do a more close-up comparison of new versus resale units, based on specific layouts:

99-year leasehold

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$2,673,000	$1,619,137	$1,053,863	65.09%
2015		$1,657,677
2016		$1,542,515
2017	$1,896,641	$1,600,285	$296,356	18.52%
2018	$1,980,354	$1,705,983	$274,371	16.08%
2019	$2,227,559	$1,738,854	$488,705	28.11%
2020	$2,111,285	$1,644,419	$466,866	28.39%
2021	$2,175,000	$1,883,502	$291,498	15.48%
2022	$2,846,224	$2,064,840	$781,384	37.84%
2023	$2,600,810	$2,096,172	$504,637	24.07%
2024	$2,620,403	$2,348,369	$272,035	11.58%

999-year/freehold

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$1,846,163	$1,720,992	$125,171	7.27%
2015	$1,892,396	$1,681,493	$210,903	12.54%
2016	$1,998,444	$1,678,652	$319,792	19.05%
2017	$2,327,147	$1,805,209	$521,938	28.91%
2018	$2,169,826	$1,726,048	$443,777	25.71%
2019	$2,499,833	$1,858,236	$641,597	34.53%
2020	$2,434,040	$1,903,435	$530,605	27.88%
2021	$2,641,057	$2,089,338	$551,720	26.41%
2022	$2,818,082	$2,279,830	$538,252	23.61%
2023	$2,780,498	$2,419,728	$360,770	14.91%
2024	$2,913,062	$2,553,593	$359,469	14.08%

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Matt K · 22 Jun 2024 · 0 comments

As we’ve seen, the price gap between new and resale three-bedders was the narrowest in 2024, at just nine per cent. Interestingly, both leasehold and freehold projects showed fairly comparable percentage differences, suggesting that tenure isn’t as much of a factor when it comes to three-bedders.

To understand this dynamic better, let’s take a closer look at the specific three-bedder transactions recorded in 2024.

999-year/freehold

New sale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
STRAITS AT JOO CHIAT	$2,093,950	$2,115	990	4
ROYAL HALLMARK	$2,108,160	$2,304	915	1
KOON SENG HOUSE	$2,384,000	$2,308	1033	2
ATLASSIA	$2,402,424	$2,188	1098	1
ARDOR RESIDENCE	$2,510,653	$2,430	1033	6
PARQ BELLA	$2,573,745	$2,368	1087	4
CLAYDENCE	$2,624,300	$2,300	1141	2
THE CONTINUUM	$2,867,846	$2,821	1018	114
MEYER BLUE	$3,386,625	$3,210	1056	32

Sub sale and resale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
SYCAMORE TREE	$1,170,000	$1,587	737	2
PARC ELEGANCE	$1,388,888	$1,466	947	1
EASTERN RESIDENCE	$1,400,000	$1,327	1055	1
GARDEN PARK RESIDENCES	$1,470,000	$1,665	883	1
EAST GROVE	$1,500,000	$1,422	1055	1
ESPIRA SPRING	$1,500,000	$1,255	1195	1
THE GERANIUM	$1,528,000	$1,651	926	1
SUNNY PALMS	$1,549,629	$1,386	1119	3
PROSPERO VILLE	$1,560,000	$1,510	1033	1
ISUITES @ MARSHALL	$1,570,000	$1,430	1098	1
BERKELEY RESIDENCES	$1,580,000	$1,649	958	1
JERSEY LODGE	$1,588,000	$1,366	1163	1
TREESCAPE	$1,588,000	$1,821	872	1
HERITAGE RESIDENCES	$1,600,000	$1,443	1109	1
ROSE VILLE	$1,600,000	$1,598	1001	1
SUITES TWENTY-TWO	$1,600,000	$1,581	1012	1
SHEBA LODGE	$1,610,000	$1,411	1141	1
CASTLE LOFT	$1,675,000	$1,428	1173	1
CRESCENDO BUILDING	$1,675,333	$1,332	1259	3
EMPRADO SUITES	$1,680,000	$1,593	1055	1
THE NCLAVE	$1,693,333	$1,622	1044	3
JOO CHIAT VERBENA	$1,700,000	$1,462	1163	1
JC COURT	$1,710,000	$1,194	1432	1
CANNAVILLE	$1,720,000	$1,427	1206	1
LE CONNEY PARK	$1,736,000	$1,394	1245	3
PRESTIGE LOFT	$1,788,000	$1,186	1507	1
SILAHIS APARTMENTS	$1,790,000	$1,381	1297	2
VENTURA VIEW	$1,790,000	$1,153	1583	2
CHELSEA LODGE	$1,799,333	$1,466	1227	3
STUDIOS@TEMBELING	$1,800,000	$1,349	1335	1
LE MERRITT	$1,824,500	$1,691	1082	4
AURALIS	$1,850,000	$1,828	1012	1
KNOX VIEW	$1,850,000	$1,615	1147	2
THE VERTE	$1,858,000	$1,676	1109	1
THE BALE	$1,859,000	$1,397	1340	4
NATURE MANSIONS	$1,860,000	$1,557	1195	1
DAWN VILLE	$1,870,000	$1,551	1206	1
FIVENINE	$1,870,000	$1,773	1055	1
THE LUSH	$1,875,000	$1,476	1270	1
UNITED MANSION	$1,882,667	$1,460	1288	3
BUTTERWORTH VIEW	$1,885,000	$1,550	1216	2
TAIPAN GRAND	$1,888,888	$1,526	1238	1
MOUNTBATTEN SUITES	$1,900,000	$1,682	1131	2
TIVOLI GRANDE	$1,916,667	$1,290	1485	3
EAST PALM	$1,918,125	$1,541	1258	8
BLU CORAL	$1,934,000	$1,361	1469	2
THE MEDLEY	$1,940,000	$1,434	1356	2
D’SAVILLE	$1,950,000	$1,677	1163	1
HAIG ELEVEN	$1,964,000	$1,698	1163	2
PALM OASIS	$1,965,000	$1,342	1464	1
8M RESIDENCES	$2,000,000	$2,239	893	1
PARADISE PALMS	$2,000,000	$1,736	1152	1
TESSA LODGE	$2,000,000	$1,630	1227	1
THE BECCAGAYLE	$2,000,000	$1,475	1356	1
EASTWIND MANSIONS	$2,000,444	$1,487	1346	2
FORTUNE JADE	$2,005,000	$1,827	1098	2
GALLERY 8	$2,010,000	$1,582	1270	1
MAYA	$2,016,888	$1,575	1281	1
CALLIDORA VILLE	$2,020,000	$1,564	1292	1
THE ESPIRA	$2,026,000	$1,329	1636	2
SERAYA RESIDENCES	$2,030,000	$1,824	1109	2
SUNSHINE REGENCY	$2,040,000	$1,363	1496	1
LA MEYER	$2,080,000	$1,806	1152	1
STILLZ RESIDENCE	$2,112,000	$1,137	1894	3
PALM LOFT	$2,128,000	$1,267	1679	1
ESTIQUE	$2,130,000	$1,511	1410	1
RITZ REGENCY	$2,130,000	$1,783	1195	1
DE CASALLE	$2,150,000	$1,722	1249	1
ST PATRICK’S LOFT	$2,160,000	$1,693	1276	2
GOLD LEAF MANSIONS	$2,168,888	$1,471	1475	1
FLAMINGO VALLEY	$2,169,200	$1,598	1415	5
CHAPEL LODGE	$2,174,444	$1,611	1356	2
CARPMAEL THIRTY-EIGHT	$2,180,000	$1,858	1173	1
EAST VIEW	$2,180,000	$1,986	1098	1
VERSILIA ON HAIG	$2,180,000	$1,929	1130	2
EASTERN LAGOON	$2,200,000	$1,597	1378	1
PALM GALLERIA	$2,200,000	$1,363	1615	1
RESIDENCE 66	$2,200,000	$1,188	1851	1
THE CARPMAELINA	$2,200,000	$1,703	1292	1
IVORY	$2,218,000	$1,272	1744	1
COASTARINA	$2,250,000	$1,620	1389	1
MAYFAIR RESIDENCES	$2,278,333	$1,912	1191	3
CRESCENDO PARK	$2,288,888	$1,599	1432	1
SEA AVENUE MANSIONS	$2,300,000	$1,908	1206	1
THE AZZURO	$2,300,000	$1,257	1830	1
VERSAILLES	$2,310,000	$1,544	1496	1
THE ELEGANCE @ CHANGI	$2,316,500	$1,169	1981	2
ROSE MAISON	$2,325,000	$1,024	2271	1
MARGATE POINT	$2,330,000	$1,819	1281	2
VILLA MARTIA	$2,349,000	$1,856	1265	2
MERLOT VILLE	$2,350,000	$1,348	1744	1
THE BEACON EDGE	$2,360,000	$1,533	1539	1
VERANDA	$2,380,000	$1,356	1820	2
EMERY POINT	$2,395,000	$1,824	1313	2
D’ECOSIA	$2,410,000	$1,964	1227	2
QUESTA @ DUNMAN	$2,410,000	$1,534	1572	1
VERDOR RESIDENCES	$2,418,888	$1,783	1356	1
HOMEY GARDENS	$2,425,000	$1,391	1744	1
RESIDENCE TWENTY-TWO	$2,430,000	$2,034	1195	1
PALMERA RESIDENCE	$2,450,000	$1,316	1862	1
THE CAPE	$2,464,444	$2,111	1168	2
ONE FORT	$2,475,000	$2,053	1206	2
THE MEYER PLACE	$2,550,000	$1,865	1367	1
IDYLLIC RESIDENCES	$2,565,000	$1,317	1948	2
HAIG TEN	$2,579,000	$1,749	1475	2
THE SEAWIND	$2,580,000	$1,844	1399	1
TIERRA VUE	$2,583,333	$1,925	1349	3
FERNWOOD TOWERS	$2,595,574	$1,624	1601	12
BUTTERWORTH 8	$2,628,225	$1,919	1375	4
SPRING @ LANGSAT	$2,638,000	$1,459	1808	1
SEVENTY SAINT PATRICK’S	$2,647,500	$2,319	1138	4
THE SOUND	$2,650,000	$1,923	1378	1
FORT GARDENS	$2,659,444	$1,910	1394	2
THE LINE @ TANJONG RHU	$2,685,000	$2,341	1146	6
PARK EAST	$2,764,000	$1,586	1755	7
NYON	$2,868,000	$2,358	1216	1
HAIG COURT	$2,894,963	$2,022	1431	3
KATONG REGENCY	$2,900,000	$2,089	1389	1
ST PATRICK’S RESIDENCES	$2,903,525	$2,056	1414	3
THE ARISTO @ AMBER	$2,910,000	$1,802	1615	1
AMBER PARK	$2,915,000	$2,912	1001	6
SPRING @ KATONG	$2,920,000	$1,739	1679	1
PALM VISTA	$2,980,000	$1,547	1927	1
GRAND DUCHESS AT ST PATRICK’S	$3,025,000	$2,196	1378	2
ONE AMBER	$3,034,955	$2,191	1406	11
PARC SEABREEZE	$3,043,333	$2,318	1313	3
THE MAKENA	$3,063,892	$1,976	1533	12
COASTLINE RESIDENCES	$3,092,667	$2,770	1116	3
THE ESTA	$3,109,500	$2,288	1359	4
THE BELVEDERE	$3,117,555	$2,373	1314	7
AMBER SKYE	$3,150,000	$2,360	1335	2
KING’S MANSION	$3,259,167	$1,955	1672	6
THE MEYERISE	$3,264,138	$2,545	1283	5
PARKSHORE	$3,267,500	$2,042	1604	4
ARTHUR MANSIONS	$3,300,000	$2,044	1615	1
AMBER 45	$3,350,000	$2,829	1184	1
KATONG GARDENS	$3,350,000	$1,719	1948	1
THE ATRIA AT MEYER	$3,385,315	$2,193	1547	6
MODA	$3,400,000	$1,847	1841	1
THE SEA VIEW	$3,410,500	$2,534	1345	6
AMBER POINT	$3,440,000	$2,036	1690	2
MEYER MANSION	$3,508,000	$3,164	1109	1
AMBER RESIDENCES	$3,680,000	$2,222	1658	2
OLA RESIDENCES	$3,684,444	$1,722	2212	2
THE SEAFRONT ON MEYER	$3,855,000	$2,404	1604	6
HAWAII TOWER	$4,000,000	$1,787	2239	1
AALTO	$4,024,722	$2,655	1518	4
OCEAN PARK	$4,031,667	$1,911	2110	3
THE WATERSIDE	$4,041,760	$1,887	2142	5
11 AMBER ROAD	$4,880,000	$1,717	2842	1

The average price range was relatively narrow in 2024, for new launches, spanning from about $2.1 million to $3.4 million. In contrast, resale projects showed a much wider spread, from $1.2 million at the lower end to nearly $4.9 million at the top. Price-wise, the new launches end up somewhere in the mid-range of their resale market counterparts.

These figures suggest that buyers shopping in the mid-tier resale bracket could plausibly consider a new launch instead. That said, a key distinction is that the majority of resale projects offer significantly larger unit sizes.

For buyers considering a resale alternative to The Continuum, Park East comes closest on average pricing.

Let’s compare how their three-bedder floor plans measure up:

Park East offers a larger three-bedder, as expected from an older property. Both projects segregate the living and dining areas, but The Continuum stacks them front-to-back in a vertical configuration, while Park East adopts an L-shaped layout that gives the dining area a more distinct corner. 

Their kitchens also share a similar feature set, with a yard, WC, and utility or home shelter; the main difference is that Park East separates the yard from the kitchen, while The Continuum integrates it as part of the space. In general, Continuum’s layout would be considered more efficient, even though the kitchen is smaller. 

Park East has a dated semi-circular design for its balcony, which is generally not favoured today (it’s more awkward to fit any kind of furniture, usually), and The Continuum has a more compact rectangular balcony. 

Taken together, Park East will appeal to those who care about raw square footage, while The Continuum makes the case for a newer, more efficient layout.

Let’s also take a look at the new and resale leasehold transactions done in 2024 

New sale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
EMERALD OF KATONG	$2,507,181	$2,607	962	281
TEMBUSU GRAND	$2,797,845	$2,386	1173	103
GRAND DUNMAN	$2,921,267	$2,581	1132	45

Sub sale and resale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
EAST BAY GARDENS	$1,355,000	$968	1399	1
NEPTUNE COURT	$1,508,494	$1,019	1473	27
TANJONG RIA CONDOMINIUM	$1,862,222	$1,534	1214	4
LEGENDA AT JOO CHIAT	$1,879,167	$1,324	1460	3
DUNMAN VIEW	$1,891,111	$1,546	1223	9
LAGOON VIEW	$1,894,222	$1,150	1647	9
LAGUNA PARK	$1,926,167	$1,182	1641	18
VILLA MARINA	$1,986,500	$1,447	1400	12
SANCTUARY GREEN	$2,061,778	$1,647	1251	5
MANDARIN GARDENS	$2,287,050	$1,298	1762	20
WATER PLACE	$2,338,000	$1,817	1286	11
RIVEREDGE	$2,388,000	$1,789	1335	1
COTE D’AZUR	$2,643,111	$1,986	1332	9
SEASIDE RESIDENCES	$2,643,434	$2,357	1120	11
CASUARINA COVE	$2,680,000	$1,649	1625	1
COSTA RHU	$2,927,000	$1,546	1899	10
SILVERSEA	$3,482,154	$2,190	1588	13
PEBBLE BAY	$3,681,335	$1,780	2076	16
CAMELOT BY-THE-WATER	$4,166,000	$1,530	2723	1

The new launches showed a relatively narrow price range of about $2.5 million to $2.9 million. Resale projects, on the other hand, stretched from around $1.4 million at the lower end to over $4.2 million at the top. This puts most new launch prices in the mid-range of the resale market.

Seven resale projects recorded higher average prices than all three new launches. These units were much larger in size, which explains their higher quantums despite the lower $PSF. While the overall price gap between new and resale leasehold projects was smaller than in the freehold segment, the difference between individual projects could still be wide.

Assuming your budget extends to the mid-range of the resale market, you could plausibly opt for a new launch in the area instead.

For those considering a resale option at a similar price point to Emerald of Katong, Riveredge comes closest in average pricing. 

Let’s look at the floor plans:

Riveredge keeps it simple with a full-sized three-bedder, while Emerald of Katong squeezes more function in with a three-bedder plus study. 

One plus point is that the study at Emerald isn’t just a token nook: it’s roomy enough to be enclosed and turned into a small bedroom.

Emerald of Katong opens up to a balcony off the living area, while Riveredge unfortunately comes with a planter box. Both give you enclosed kitchens with a yard and WC, but Riveredge adds a home shelter. Layout-wise, Emerald splits the living and dining areas for clearer zones, while Riveredge lines them up side by side. Emerald also sneaks in a store across from the kitchen for extra utility.

Along with the planter box issue, Riveredge’s bedrooms come with bay windows, which eat into usable space; this makes some of its larger square footage start to feel wasted. Emerald of Katong, on the other hand, has a more efficient layout, and the versatile study-turned-bedroom gives it the edge, even against Riveredge’s bigger size.

Now, let’s look at the four-bedroom transactions

99-year leasehold

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$11,100,000	$2,884,236	$8,215,764	284.85%
2015		$2,956,223
2016		$2,672,933
2017	$2,938,533	$2,727,075	$211,458	7.75%
2018	$3,286,786	$2,822,030	$464,756	16.47%
2019	$3,463,977	$3,059,840	$404,137	13.21%
2020		$3,204,520
2021		$3,408,902
2022	$3,909,647	$4,075,223	-$165,576	-4.06%
2023	$3,536,808	$4,051,696	-$514,888	-12.71%
2024	$3,291,835	$3,774,683	-$482,847	-12.79%

999-year/freehold

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$2,165,804	$2,553,153	-$387,349	-15.17%
2015	$2,923,000	$2,641,190	$281,810	10.67%
2016	$2,960,500	$2,611,898	$348,602	13.35%
2017	$4,743,797	$2,723,226	$2,020,571	74.20%
2018	$3,302,368	$2,869,749	$432,619	15.08%
2019	$4,056,083	$2,984,719	$1,071,364	35.89%
2020	$4,361,553	$2,734,399	$1,627,154	59.51%
2021	$3,983,282	$3,326,894	$656,388	19.73%
2022	$3,929,486	$3,905,135	$24,352	0.62%
2023	$3,312,765	$3,625,148	-$312,382	-8.62%
2024	$4,166,220	$4,052,475	$113,745	2.81%

In 2024, resale four-bedders cost about 14 per cent more than new launches. The data suggests this comes mainly from the 99-year leasehold segment, where resale prices have pushed noticeably higher.

To see why, let’s dig into the specific four-bedder transactions recorded in 2024.

999-year/freehold

New sale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
STRAITS AT JOO CHIAT	$2,369,080	$2,084	1136	2
ATLASSIA	$2,776,437	$2,236	1241	3
KOON SENG HOUSE	$3,000,000	$2,284	1313	1
PARQ BELLA	$3,120,000	$2,282	1367	1
THE CONTINUUM	$3,585,563	$2,814	1274	16
MEYER BLUE	$5,129,550	$3,229	1590	20

Sub sale and resale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
BERKELEY RESIDENCES	$1,490,900	$1,690	883	2
LE CONNEY PARK	$1,741,000	$1,444	1206	3
IVORY	$2,000,000	$1,074	1862	1
J@63	$2,200,000	$1,877	1173	2
THE RAMFORD	$2,240,000	$1,875	1195	2
THE ARIEL	$2,338,888	$1,468	1593	1
THE AMBROSIA	$2,450,000	$1,661	1475	1
THE AMARELLE	$2,500,000	$1,733	1442	1
FINLAND GARDENS	$2,700,000	$1,568	1722	1
RADIX	$2,760,000	$1,386	1991	1
TEMBELING CENTRE	$3,000,000	$1,394	2153	1
HAIG COURT	$3,200,000	$2,065	1550	4
PARK EAST	$3,290,000	$1,671	1970	2
PARC SEABREEZE	$3,330,000	$2,090	1593	2
ONE AMBER	$3,377,500	$2,065	1637	2
VERSILIA ON HAIG	$3,400,000	$1,533	2217	1
TIERRA VUE	$3,450,000	$1,801	1916	1
THE ESTA	$3,636,000	$2,282	1593	3
THE HACIENDA	$3,682,500	$1,707	2159	2
ST PATRICK’S RESIDENCES	$3,712,667	$1,549	2397	3
AMBER 45	$4,022,500	$2,744	1470	2
THE SEA VIEW	$4,035,944	$2,548	1583	2
THE VIEW @ MEYER	$4,058,000	$2,257	1798	1
FLAMINGO VALLEY	$4,180,000	$1,625	2573	1
VERTIS	$4,200,000	$2,001	2099	1
EQUATORIAL APARTMENTS	$4,330,000	$1,734	2497	1
THE MEYERISE	$4,400,000	$2,141	2056	2
GRAND DUCHESS AT ST PATRICK’S	$4,436,667	$1,753	2569	3
MEIER SUITES	$4,514,000	$2,036	2218	2
AMBER PARK	$4,618,000	$2,843	1625	5
KING’S MANSION	$4,780,000	$1,748	2734	1
MEYER MANSION	$5,000,000	$2,832	1765	1
THE SEAFRONT ON MEYER	$5,035,600	$2,312	2176	5
PEACH GARDEN	$5,075,000	$1,835	2766	2
AALTO	$5,328,333	$2,518	2120	6
OCEAN PARK	$5,640,000	$1,730	3261	2
THE SOVEREIGN	$7,800,000	$2,518	3082	3
MEYERHOUSE	$9,280,000	$3,124	2971	1

For new launches, prices in 2024 mostly sat between $2.4 million and $3.6 million, with Meyer Blue as the luxury outlier at over $5.1 million. On the resale side, the spread was far wider, from about $1.5 million at the lower end to $5.6 million at the top. This is excluding premium projects like The Sovereign and Meyerhouse, which pushed well beyond that range.

This positions most new launch four-bedders in the lower to mid range of the resale market. If your budget falls within this segment of the resale market, you already have the budget to buy new. But the key consideration is space: most resale four-bedders are much bigger compared to their new launch counterparts, even when their overall prices are close.

For buyers considering a resale alternative at a similar price point to The Continuum, Tierra Vue comes closest in terms of average pricing. 

Let’s look at how their layouts compare:

The four-bedder at Tierra Vue is noticeably larger, but much of this difference comes from outdoor space: the duplex penthouse offers a balcony and terrace on the lower floor, as well as another terrace and roof terrace upstairs. 

In contrast, The Continuum’s four-bedder is a single-storey unit with just one balcony off the living area. In terms of layout, both units provide four bedrooms and two bathrooms, although The Continuum effectively has two ensuite bedrooms thanks to a Jack and Jill configuration for its common bathroom. 

Both kitchens come with a yard, WC, and utility or home shelter, though The Continuum adds a dry kitchen – something Tierra Vue lacks. The Continuum also offers clearer segregation of living and dining areas, while Tierra Vue keeps both in the same shared space. While the penthouse format at Tierra Vue may appeal to those who value outdoor living and larger square footage, The Continuum’s more efficient single-storey layout, with practical touches like the dry kitchen, is likely to have broader appeal.

Let’s also take a look at the new and resale leasehold transactions done in 2024:

New sale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
EMERALD OF KATONG	$3,180,781	$2,552	1246	155
TEMBUSU GRAND	$3,454,264	$2,408	1435	53
GRAND DUNMAN	$3,501,707	$2,483	1412	41

Sub sale and resale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
WATER PLACE	$2,385,000	$1,594	1493	3
VILLA MARINA	$2,480,000	$1,226	2024	2
SANCTUARY GREEN	$2,837,600	$1,494	1942	8
RIVEREDGE	$3,150,000	$1,964	1604	1
LAGUNA PARK	$3,600,000	$1,069	3369	1
SEASIDE RESIDENCES	$3,815,000	$2,366	1609	2
COSTA RHU	$3,872,500	$1,728	2239	4
PEBBLE BAY	$5,030,000	$1,802	2788	2
CAMELOT BY-THE-WATER	$5,400,000	$1,529	3531	1
SILVERSEA	$5,864,000	$2,001	2928	5

In 2024, new launches like Emerald of Katong, Tembusu Grand, and Grand Dunman sat squarely in the mid-range of the resale market. Their $PSF was consistently higher, but resale projects were larger, keeping to the familiar pattern.

Of the ten resale projects transacted, six recorded higher average prices than Grand Dunman, the most expensive new launch. As such, buyers with budgets in the mid-range of the resale market could just as easily consider a new launch.

For buyers weighing a resale alternative at a similar price point to Emerald of Katong and Riveredge comes closest in average pricing. 

Let’s compare their floor plans:

Emerald of Katong’s layout is actually a 4 + Study, while Riveredge sticks to a conventional four-bedder; but the Riveredge unit is still bigger. 

For Emerald, the study is large enough to be enclosed and used as a small extra bedroom. Layout-wise, Emerald of Katong goes for a dumbbell configuration, while Riveredge takes the traditional corridor approach. This makes Emerald more efficient, which is expected of a newer layout. 

Emerald of Katong comes with two bathrooms and just one ensuite, while Riveredge offers three bathrooms and two ensuites.

In the living spaces, Emerald separates the living and dining areas, with the living flowing onto a balcony. Riveredge places its living and dining side by side, but swaps the balcony for a planter. Both kitchens are enclosed and include a yard and WC, though Riveredge adds a home shelter. Emerald tucks in a store near the bedroom walkway and even manages a dry kitchen, something Riveredge doesn’t have.

Every bedroom in Riveredge comes with bay windows unfortunately, which chew up usable space. Together with the planter, there’s definitely wasted square footage. Emerald of Katong, on the other hand, is newer and more efficient.

As for the five-bedders, we run into the usual issue of low transaction volumes.

There was only one resale transaction for leasehold developments in 2017;  so we will just look at freehold projects instead:

999-year/freehold

Year	New Sale	Sub sale and resale	Price difference	% difference
2014	$1,735,167	$7,350,000	-$5,614,833	-76.39%
2015	$1,590,000	$2,794,444	-$1,204,444	-43.10%
2016	$2,363,667	$2,818,688	-$455,021	-16.14%
2017	$2,371,000	$3,453,200	-$1,082,200	-31.34%
2018	$2,393,000	$4,433,167	-$2,040,167	-46.02%
2019	$5,587,656	$2,325,250	$3,262,406	140.30%
2020	$5,562,660	$3,136,444	$2,426,216	77.36%
2021	$5,555,000	$4,998,889	$556,111	11.12%
2022	$4,953,474	$5,100,000	-$146,526	-2.87%
2023	$5,315,551	$6,020,000	-$704,449	-11.70%
2024	$6,349,487	$4,256,000	$2,093,487	49.19%

The price gap in 2024 was just seven per cent on paper, but this is misleading. The presence of new 99-year leasehold projects – with lower launch prices – dragged down the average for new sales, making the gap appear narrower than it really is.

Once again, we need to caution against reading too much into five-bedder numbers. Because these very high-priced transactions are so rare and volatile, they aren’t representative of much. 

But for the sake of completeness if nothing else, let’s look into the actual freehold five-bedder transactions recorded in 2024.

999-year/freehold

New sale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
STRAITS AT JOO CHIAT	$3,051,300	$2,100	1453	1
K SUITES	$3,400,000	$2,064	1647	1
THE CONTINUUM	$5,470,000	$2,871	1905	1
MEYER BLUE	$6,943,417	$3,325	2083	12

Sub sale and resale

Project	Average price	Average $PSF	Average size (sqft) for units transacted	Transaction volume
THE RAMFORD	$2,600,000	$1,579	1647	1
ST PATRICK’S RESIDENCES	$3,668,000	$1,432	2562	1
AMBER PARK	$6,500,000	$2,783	2336	1

On the surface, new and resale five-bedders traded in a fairly similar price band in 2024, aside from The Ramford which came in lower. The apparent gap in averages was mainly the result of Meyer Blue. Because Meyer Blue had more transactions than the other projects, and two deals above $10 million, its higher quantum skewed the overall new launch average upward.

A floor-plan comparison for five-bedders wouldn’t be useful to do. Apart from the very low transaction numbers, units at this price point also tend to be special or one-of-a-kind within their project, so meaningful insights are unlikely.

Conclusion

Three-bedders in D15 show the narrowest gaps today, with resale units even edging out new launches in long-term growth. This is partly due to many older three-bedders being larger than their newer counterparts.

We see this more dramatically with four-bedders, which highlight how sheer size can swing the balance: many resale units are much larger, which pushes their overall quantum significantly above new launches; even if the $PSF is lower. 

For family buyers, this means resale options in District 15 can be strong contenders if you value space, utility rooms, and bigger layouts; these tend to be more scarce in new projects. However, newer layouts aren’t just more efficient – their lower square footage tends to make them more affordable, alongside newer facilities; and this may appeal to buyers who prize more than just space.

Either way, the big lesson from three-bedders and up is that the choice isn’t as straightforward as “new versus old.” It’s about which trade-offs – space versus efficiency, or age versus tenure – that make the most sense for your long-term goals.

The challenge with family-sized units in D15 isn’t just price, it’s knowing which trade-offs actually align with your lifestyle and exit strategy. Too many buyers focus only on $PSF or overall quantum, but the deeper issue is how layout efficiency, tenure, and long-term liveability interact. At Stacked, we’ve helped families navigate this exact dilemma to secure homes that balance size with value, and avoid costly mismatches down the line. Want to see how this framework applies to your own upgrading plans? Let’s chat.

Follow us on Stacked Pro, as we do more deep dives into the new launch/resale price gap in the Singapore property market.