Last Updated on April 9, 2025 by Maelyn Lagman
The Singapore condo market is evolving rapidly. In 2025, new launch condo prices now average over $2,200 per square foot (PSF), with some exceeding $3,000 PSF in prime areas. Meanwhile, resale condo prices are more subdued, hovering around $1,500 to $1,700 PSF, depending on location. Executive Condos (ECs) remain the most affordable entry point into private property — but that landscape is shifting too, as high-end ECs break resale records.
If you’re trying to decide between a new condo launch, a resale condo, or an EC, the key is to understand how each segment compares — not just in terms of price, but value and long-term growth.
The Truth About Singapore Condo Prices
PSF Price Gap by Region: New Launch vs Resale Condo
Here’s how PSF prices stack up between new launches and resale units across the main regions:
| Region | New Launch Condo | Resale Condo | PSF Price Gap |
|---|---|---|---|
| Core Central Region (CCR) | ~$3,146 PSF | ~$2,186 PSF | ~44% |
| Rest of Central Region (RCR) | ~$2,458 PSF | ~$1,795 PSF | ~37% |
| Outside Central Region (OCR) | ~$2,080 PSF | ~$1,447 PSF | ~44% |
Larger homes come with an even larger price gap. For units above 1,200 sq ft, the PSF gap can widen to 54%, making resale condos especially attractive for families looking for space without overspending.
CCR: Premium prices for prime location
The Core Central Region (CCR) — think Orchard, River Valley, Bukit Timah — continues to command the highest PSF prices. At over $3,100 PSF, these are “trophy homes”, often purchased for investment, rental yield, or as legacy assets.
The gap between new and resale prices here is significant, but resale buyers must weigh the trade-offs: while older resale units may offer more space, they often come with dated finishes and fewer modern amenities.
RCR: City-fringe sweet spot
In the Rest of Central Region (RCR) — including areas like Queenstown, Toa Payoh, and Geylang — new launch condos now average $2,450+ PSF, up from under $2,000 PSF just a couple of years ago.
This price surge is partly driven by the dwindling land supply in city-fringe areas and the growing popularity of integrated developments. For buyers who want to be near town without paying CCR prices, RCR launches often hit the sweet spot — though resale properties remain an attractive value play for those willing to renovate.
OCR: Heartland homes gaining demand
The Outside Central Region (OCR) used to be the most budget-friendly — but those days are fading. New launch condos now average $2,080 PSF, narrowing the gap with city-fringe developments.
Resale condos in the OCR — in areas like Sengkang, Yishun, and Choa Chu Kang — still offer a buffer at around $1,450 PSF, but the lines are blurring fast. Case in point: High Park Residences, launched at ~$988 PSF, now sells at ~$1,300 PSF, showing that even in the heartlands, gains are substantial if you buy right.
Singapore Condo Prices Over 10 Years: New Launch vs Resale
To fully appreciate how we got here, let’s look at how new launch and resale condo prices have moved in the past decade.
- New launch condos have soared from about $1,300 PSF in 2013 to nearly $2,500 PSF in 2024 — an 87% increase over the past decade.
- Resale condos, while also on an upward trajectory, have seen a slower climb — from around $1,200 PSF in 2013 to just over $1,600 PSF in 2024.
What’s Driving the Widening Price Gap?
- Construction and compliance costs have risen sharply post-COVID, pushing developers to price units higher to maintain margins.
- Smaller unit sizes in new launches mean higher PSF even if the quantum remains somewhat manageable.
- Land bid competition remains stiff, especially in GLS sites within RCR and OCR regions — driving base pricing up.
EC: A Surprising Player in the Market
Once seen as a stepping stone between HDB and private property, ECs are fast becoming headline-makers in their own right.
Take Hundred Palms Residences, for example. In early 2025, a 1,528 sq ft unit on the 13th floor sold for $3.058 million ($2,001 PSF) — a record-breaking price for a non-penthouse EC.
Here are other strong performers:
- Visionaire (Canberra): ~$811 PSF at launch to ~$1,300 PSF on resale (+60%)
- CityLife@Tampines: $1.38 million profit on resale
- The Quintet (Choa Chu Kang): $1.02 million resale profit
Ready to sell your home? We’re ready to help.
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Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
Ready to sell your home? We’re ready to help.
Schedule a consultation with one of Singapore’s top agents.
Across a study of 4,806 EC transactions, the average gross resale profit came in at $314,000 — with larger units raking in even more. Units exceeding 1,600 sq ft can expect to see significant gains of about $470,000.
ECs have always offered great value — but now, they’re also delivering serious gains.
Which Should You Choose?
In a fast-moving Singapore property market, price is only part of the equation. You’ll need to factor in location, lifestyle, space, appreciation potential, and holding power.
| Buyer Profile | Best Fit |
|---|---|
| You want prestige and long-term capital gains | New launch condo |
| You prioritise space and immediate value | Resale condo |
| You want private living with appreciation potential but at a more affordable entry point | Executive Condo (EC) |
New launches may carry prestige and cutting-edge design, but resale condos offer tangible value — especially for those prioritising space. Meanwhile, executive condos are no longer just a stepping stone. In many cases, they’re outperforming expectations and delivering windfall gains.
So whether you’re selling your HDB flat to buy a condo as your second home, entering the market as a first-time buyer, or seeking a smart investment, the right move in 2025 is the one aligned with your goals — and grounded in the data.
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Related Articles
This article is part of Ohmyhome’s Singapore Condo guide series, written to help you make informed decisions. Explore more insights on topics like:
- Guide to Buying a Condo in Singapore
- Your Guide to Singapore’s Condo Price Hotspots
- The Ultimate Singapore District Map: CCR, RCR, RCR Explained
- The Ultimate Guide to Sell Your Condo
- Everything You Need to Know About Seller’s Stamp Duty (SSD)
Contributed by: Noah Vienne
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