Insights

New launch versus resale price gaps: how to compare them

A reproducible method for interpreting monthly new-sale and resale price differences.

Published 30 November 2024

Updated September 2026. This preserves the original November snapshot as a method note; its prices are not current quotations.

New launch and resale prices are not directly interchangeable

A gap in average PSF can reflect geography, unit size, sale mix, completion status, incentives and the projects transacting in that month. It does not by itself show that one market is cheap or expensive.

Reproduce the comparison

  1. Fix the reference month and market segment.
  2. Separate developer sales, sub-sales and resales.
  3. Compare median and transaction distribution, not only an average.
  4. Control for unit size, tenure, floor and location.
  5. Review total quantum and transaction count.

URA explains that its private residential statistics draw on caveats, stamp-duty data and developer submissions, while caveat coverage and timing have limitations. Use the current URA data before making a decision.