In this Stacked Pro breakdown:
Comparison
We analysed 10 years of price data for two-bedroom condos in District 5, comparing new launch transactions against resale and sub sale deals from 2014 to 2024. Key projects include Terra Hill, Blossoms by the Park, and The Hill @ One-North on the new side, as well as resale comparables like Clavon, Kent Ridge Hill Residences, and The Clement Canopy.
Key Insight
From 2022 to 2024, the price gap between new and resale two-bedroom units widened dramatically, from a modest 6.5 per cent to a staggering 43.5 per cent or $607,000 in 2024. Even recently completed resale condos remain cheaper than brand-new launches, despite similar sizes and locations.
Why This Matters
For many upgraders, the $2 million threshold for new launches may no longer be feasible, especially when resale alternatives offer more space at significantly lower cost. But the gap isn’t always as extreme as it seems: depending on the project in question, there are other factors to consider – from age to unit count. Understanding which differences matter can help buyers avoid overpaying or missing out.
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For many homebuyers, upgrading from a one to two-bedder in the same area is already a financial stretch. But in District 5, the gap between new and resale condos has grown so large, it’s now time for buyers to pause and perhaps consider alternatives. Based on 2024 transactions, the average new two-bedroom condo in District 5 now costs around $2 million, compared to just $1.4 million for resale units: that’s a $607,000 difference, or a 43.45 per cent premium. That’s the third-highest gap across all districts, and it begs the question: Should upgraders here seriously consider resale instead, where they’d be able to get a larger home?
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A quick look at the price gap between new and resale projects, starting with the two-bedders:
From 2014 to 2019, District 5 was a whole different beast for two-bedders. During these five years, the average resale two-bedder prices were on par with (and sometimes higher than) new launch prices in the district.
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