There is no universal answer to whether a new launch or resale property is better. They are different propositions, and the right choice depends on what you need the property to achieve.
A new launch offers a fresh lease, newer facilities and specifications, and progressive payments during construction. Buyers may also have a wider selection of units during the early stages of a launch.
But you are buying something that you cannot yet experience as a completed home. The actual views, surrounding environment and day-to-day character of the development may only become fully apparent after completion. Pricing should therefore be compared carefully with surrounding resale properties and competing new developments.
A resale property provides greater certainty. You can inspect the actual unit, facing, condition, views and surroundings before committing. Transaction evidence and existing rents may also make valuation easier to assess.
The trade-off can include an older lease, renovation requirements and less contemporary facilities.
Your timeframe matters too. Someone who needs a home soon may find resale more practical, while a buyer planning several years ahead may be comfortable waiting for a new development.
Our View
Do not choose a new launch simply because it is new, or resale simply because it appears cheaper.
Compare the price, financing, timeframe, property attributes and alternatives. The better choice is the one that fits your circumstances and represents better value for what you are trying to achieve.