Buying a 3 bedroom to live in: when does a resale leave more cash than waiting for a new launch?

This note compares two owners who have sold a home and need somewhere to live. One buys a resale 3 bedroom, renovates it and rents elsewhere for 3 months while the work is done. The other buys a 3 bedroom at launch and rents until it is completed. The question is which of them ends up with more cash when they sell.

Held about 5 years, at a 2.5% mortgage rate, the resale buyer ended up with more cash as long as the renovation cost less than a certain share of the price. That share rose with the resale's age: 0.1% for a resale up to 5 years old, 2.2% for a resale 6 to 15 years old, and 7.7% for a resale 16 years or older.

Held about 10 years, the launch buyer ended up with more cash than the buyer of a resale up to 5 years old, whatever the renovation cost. The share was 0.6% for a resale 6 to 15 years old and 6.2% for a resale 16 years or older.

At a 4.5% mortgage rate, the launch buyer ended up with more cash than the buyer of any resale up to 15 years old, whatever the renovation cost. A resale 16 years or older still came out ahead with a renovation of up to 5.3% of the price held about 5 years, and up to 2.7% held about 10 years.

In every region and at every mortgage rate tested, a buyer of the oldest resales could spend the most on renovation and still come out ahead, and a buyer of the youngest the least or nothing. By year of purchase, this order breaks in two of seven periods at a 2.5% mortgage rate: the second half of 2018, and 2020. The figures by purchase period are in the Method.

Both buyers start with the same cash. The comparison uses owners who bought and later sold the same unit, costed as if they lived in it. A separate note asks the same question for a landlord who rents the unit out.

More on this: Does a 3 bedroom new launch make more money than a resale? and 3 bedroom condos in Singapore: what they cost, how big they are, and what they return

What is in this note

• How much can a resale buyer spend on renovation before a launch leaves more cash?: the break-even renovation, held about 5 years and about 10 years, by the resale's age, at four mortgage rates.
• What does each level of renovation leave the resale buyer?: how far ahead each buyer ends up at four levels of renovation.
• Does the answer hold in each region?: the same break-even in the suburbs, the city fringe and prime.
• What else moves the answer?: the launch buyer's fit-out, and how long the launch takes to complete.

How much can a resale buyer spend on renovation before a launch leaves more cash?

The break-even is the renovation cost, as a share of the resale price, at which both buyers end up with the same cash. Spend less and the resale buyer is ahead; spend more and the launch buyer is.

To use it with a renovation quote: divide the quote by the price of the resale you are looking at, and compare the result with the break-even for that resale's age.

Held about 5 years, at a 2.5% mortgage rate

Resale age (resales)	Break-even	Median price	Median age (years)
All resales (1,794)	3.5% ($47,411)	$1,370,000	12.0
0 to 5 years old (432)	0.1% ($715)	$1,350,000	3.0
6 to 15 years old (713)	2.2% ($31,468)	$1,450,000	10.0
16 years or older (649)	7.7% ($97,491)	$1,273,000	20.0

Every row is compared with the same launch buyer: 1,507 launch purchases, with a median price of $1,390,500, a median 2.2 years from purchase to completion, and a median hold of 5.0 years.

Held about 10 years, at a 2.5% mortgage rate

Resale age (resales)	Break-even	Median price	Median age (years)
All resales (498)	0.7% ($10,118)	$1,400,000	10.0
0 to 5 years old (115)	Launch ahead	$1,610,000	3.0
6 to 15 years old (262)	0.6% ($8,231)	$1,317,500	10.0
16 years or older (121)	6.2% ($84,686)	$1,360,000	18.0

Every row is compared with the same launch buyer: 707 launch purchases, with a median price of $1,270,300, a median 2.7 years from purchase to completion, and a median hold of 9.9 years.

Where a cell says Launch ahead, the launch buyer ends up with more cash whatever the renovation costs. Each buyer's cash at the later sale, measured against keeping the same money at the CPF Ordinary Account rate:

• 0 to 5 years old: resale buyer −$294,636, launch buyer −$219,358

Both figures are usually negative because living in a home costs interest, maintenance and tax, and neither buyer is credited with the rent they no longer pay; compare the two figures with each other, not with zero.

The mortgage rate changes the answer, so the tables below show each break-even at four rates.

Held about 5 years

Resale age	At 1.5%	At 2.5%	At 3.5%	At 4.5%
All resales	4.7%	3.5%	2.1%	0.8%
0 to 5 years old	1.3%	0.1%	Launch ahead	Launch ahead
6 to 15 years old	3.6%	2.2%	0.7%	Launch ahead
16 years or older	8.8%	7.7%	6.5%	5.3%

Cash figures for the 'Launch ahead' cells:

• 0 to 5 years old, at 3.5%: resale buyer −$86,652, launch buyer −$67,755
• 0 to 5 years old, at 4.5%: resale buyer −$141,196, launch buyer −$102,009
• 6 to 15 years old, at 4.5%: resale buyer −$114,494, launch buyer −$102,009

Held about 10 years

Resale age	At 1.5%	At 2.5%	At 3.5%	At 4.5%
All resales	2.5%	0.7%	Launch ahead	Launch ahead
0 to 5 years old	Launch ahead	Launch ahead	Launch ahead	Launch ahead
6 to 15 years old	2.1%	0.6%	Launch ahead	Launch ahead
16 years or older	7.8%	6.2%	4.5%	2.7%

Cash figures for the 'Launch ahead' cells:

• All resales, at 3.5%: resale buyer −$319,650, launch buyer −$299,253
• All resales, at 4.5%: resale buyer −$436,237, launch buyer −$380,676
• 0 to 5 years old, at 1.5%: resale buyer −$168,891, launch buyer −$141,248
• 0 to 5 years old, at 2.5%: resale buyer −$294,636, launch buyer −$219,358
• 0 to 5 years old, at 3.5%: resale buyer −$424,836, launch buyer −$299,253
• 0 to 5 years old, at 4.5%: resale buyer −$558,912, launch buyer −$380,676
• 6 to 15 years old, at 3.5%: resale buyer −$315,389, launch buyer −$299,253
• 6 to 15 years old, at 4.5%: resale buyer −$425,106, launch buyer −$380,676

A higher mortgage rate lowers every break-even. The resale buyer takes the whole loan on the day of purchase, while the launch buyer draws it in stages as the building goes up, so a higher rate costs the resale buyer more.

What does each level of renovation leave the resale buyer?

Each figure is how much more cash the resale buyer ends up with than the launch buyer, at the later of the two sales. A negative figure means the launch buyer ends up with more cash than the resale buyer.

Held about 5 years

Resale age	Renovation 2.5%	Renovation 5%	Renovation 7.5%	Renovation 10%
All resales	$14,860	−$23,811	−$62,482	−$101,153
0 to 5 years old	−$37,300	−$75,406	−$113,513	−$151,619
6 to 15 years old	−$5,399	−$46,328	−$87,257	−$128,187
16 years or older	$74,143	$38,210	$2,277	−$33,656

Held about 10 years

Resale age	Renovation 2.5%	Renovation 5%	Renovation 7.5%	Renovation 10%
All resales	−$31,785	−$76,496	−$121,207	−$165,918
0 to 5 years old	−$126,695	−$178,113	−$229,530	−$280,948
6 to 15 years old	−$31,561	−$73,637	−$115,714	−$157,790
16 years or older	$64,749	$21,316	−$22,117	−$65,551

Each extra 2.5% of the price spent on renovation lowers the figure by the same amount, because the renovation is paid once, at purchase.

Does the answer hold in each region?

In every region and at every mortgage rate tested, a buyer of the oldest resales could spend the most on renovation and still come out ahead, and a buyer of the youngest the least or nothing. The Method has the figures at all four rates.

Held about 5 years, at a 2.5% mortgage rate

Region	All resales	0 to 5	6 to 15	16 or more
Suburbs (OCR)	5.7%	3.0%	4.0%	9.6%
City fringe (RCR)	2.4%	Launch ahead	1.0%	6.0%
Prime (CCR)	6.9%	Launch ahead	6.0%	14.2%

Cash figures for the 'Launch ahead' cells:

• City fringe (RCR), 0 to 5 years old: resale buyer −$53,080, launch buyer −$6,609
• Prime (CCR), 0 to 5 years old: resale buyer −$271,999, launch buyer −$234,982

Held about 10 years, at a 2.5% mortgage rate

Region	All resales	0 to 5	6 to 15	16 or more
Suburbs (OCR)	Launch ahead	Launch ahead	Launch ahead	6.1%
City fringe (RCR)	1.6%	Launch ahead	2.3%	4.7%
Prime (CCR)	8.8%	1.2%	13.2%	16.7%

Cash figures for the 'Launch ahead' cells:

• Suburbs (OCR), all resales: resale buyer −$196,182, launch buyer −$178,719
• Suburbs (OCR), 0 to 5 years old: resale buyer −$235,125, launch buyer −$178,719
• Suburbs (OCR), 6 to 15 years old: resale buyer −$221,178, launch buyer −$178,719
• City fringe (RCR), 0 to 5 years old: resale buyer −$385,974, launch buyer −$243,485

The prime (CCR) figure held about 10 years is not reliable. It rests on 61 launch purchases, only 12 once the largest development is removed, and removing that development moves the break-even for all resales at a 2.5% rate from 8.8% to 21.5%. The Method shows every region with its largest development removed.

What else moves the answer?

Two costs are estimates: the launch buyer's fit-out, set at 1.5% of the price, and the time to completion, read from a completion year. The tables below show the break-even at a 2.5% mortgage rate when either one is different.

Fit-out, held about 5 years

Resale age	Fit-out 1%	As stated	Fit-out 2%
All resales	3.0%	3.5%	3.9%
0 to 5 years old	Launch ahead	0.1%	0.5%
6 to 15 years old	1.7%	2.2%	2.6%
16 years or older	7.1%	7.7%	8.2%

Cash figures for the 'Launch ahead' cells:

• 0 to 5 years old, fit-out 1%: resale buyer −$32,905, launch buyer −$26,286

Fit-out, held about 10 years

Resale age	Fit-out 1%	As stated	Fit-out 2%
All resales	0.3%	0.7%	1.1%
0 to 5 years old	Launch ahead	Launch ahead	Launch ahead
6 to 15 years old	0.2%	0.6%	1.1%
16 years or older	5.8%	6.2%	6.7%

Cash figures for the 'Launch ahead' cells:

• 0 to 5 years old, fit-out 1%: resale buyer −$294,636, launch buyer −$211,761
• 0 to 5 years old, fit-out as stated: resale buyer −$294,636, launch buyer −$219,358
• 0 to 5 years old, fit-out 2%: resale buyer −$294,636, launch buyer −$226,954

Completion, held about 5 years

Resale age	6 months sooner	As stated	6 months later
All resales	3.5%	3.5%	3.5%
0 to 5 years old	0.0%	0.1%	0.1%
6 to 15 years old	2.2%	2.2%	2.2%
16 years or older	7.7%	7.7%	7.7%

Completion, held about 10 years

Resale age	6 months sooner	As stated	6 months later
All resales	0.5%	0.7%	0.9%
0 to 5 years old	Launch ahead	Launch ahead	Launch ahead
6 to 15 years old	0.4%	0.6%	0.8%
16 years or older	6.0%	6.2%	6.4%

Cash figures for the 'Launch ahead' cells:

• 0 to 5 years old, completion 6 months sooner: resale buyer −$294,636, launch buyer −$215,372
• 0 to 5 years old, completion as stated: resale buyer −$294,636, launch buyer −$219,358
• 0 to 5 years old, completion 6 months later: resale buyer −$294,636, launch buyer −$221,853

Moving completion 6 months earlier or later changes each break-even by less than half a percentage point. A later completion means more months of rent for the launch buyer, but the progressive payments and the loan interest also start later, and the two nearly cancel out.

What this tells you

Taking all resales together, a resale 3 bedroom held about 5 years left more cash than renting and waiting for a launch if its renovation cost less than 3.5% of the price, at a 2.5% mortgage rate. Held about 10 years, the figure was 0.7%.

The resale's age changes the answer most: a resale 16 years or older still came out ahead with a renovation of up to 7.7% of the price held about 5 years, and 6.2% held about 10 years. A resale up to 5 years old came out ahead only if the renovation cost almost nothing: under 0.1% of the price, about $715, held about 5 years. Held about 10 years, it did not come out ahead at all. In every region and at every mortgage rate tested, a buyer of the oldest resales could spend the most on renovation and still come out ahead, and a buyer of the youngest the least or nothing.

The year of purchase also matters: at a 2.5% mortgage rate, the break-even for all resales ranged from none, for purchases in 2015 (the launch buyer was ahead at any renovation), to 8.7% for purchases in 2018, 1 January to 5 July. The order by age broke for purchases in the second half of 2018 and in 2020. The Method gives the figures by purchase period.

So does the mortgage rate: the higher the rate, the more rows in which the launch buyer is ahead whatever the renovation costs, because the launch buyer draws the loan in stages.

What this does not tell you

• The cost of a serviced apartment or a longer stay. The resale buyer's renovation stay is costed at 3 months of a 3 bedroom's market rent.
• Whether these owners lived in their units. The data records the purchase and the sale, not who lived there. Each pair is costed as if the owner did.
• The value of living in your own home. Neither buyer is credited with the rent they no longer pay; the comparison is in cash.
• Buying before selling. Both buyers sold first, so neither pays the additional buyer's stamp duty. A buyer who buys before selling pays it and claims it back if the first home is sold within 6 months; that case is not modelled.
• Exact completion dates. The data gives the year a development was completed, not the date it received its Temporary Occupation Permit. Completion is read as 1 July of that year.
• Your own costs. The renovation, fit-out and running costs are typical levels, not quotes. Compare your own quote with the break-even for your resale's age and region.

Method and data notes

The pairs. Repeat sales of 3 bedroom condominium and apartment units in URA private residential transaction records: each purchase paired with the next sale of the same unit. The bedroom count is read on the purchase. A purchase from the developer is a launch; any other purchase is a resale. Units recorded with more than 1,000 square feet a bedroom, and two units with a mislabelled bedroom count, are left out, as are the projects and units excluded across the 3 bedroom series.

Two holds. About 5 years: bought from 2015 to 2020 and sold 4 to 6 years later. About 10 years: bought from 6 October 2012 to 2015 and sold 9 to 11 years later. The 10-year purchase years are pooled because each age band would otherwise be too small. Every sale is on or before 31 December 2025.

The 10-year pairs by purchase year, launch and resale: 2012, 131 and 94; 2013, 354 and 156; 2014, 124 and 130; 2015, 98 and 118.

What was left out, in order. Each pair is counted once, under the first rule it fails:

Rule	About 5 years	About 10 years
An excluded project or flagged unit	54	14
Sold after 31 December 2025	131	60
Launch with no completion year	none	none
Launch sold before its completion year	4	none
Launch sold in its completion year	178	none
Launch with an implausible lead time	100	20
Resale with no completion year	none	none
Resale bought before its completion year	none	none
Candidate pairs before these rules	3,768	1,299
Launch pairs kept	1,507	707
Resale pairs kept	1,794	498

A launch's lead time is implausible if it was bought after mid-way through its completion year, or more than 6 years before it.

The two buyers, month by month. Both clocks start at purchase. Each side is priced on the medians of its own pairs: price, gain, hold and floor area. Stamp duty, the loan limit and seller's stamp duty are those in force on the median purchase date. Both buyers start with the same cash, which earns the CPF Ordinary Account rate until it is spent. The comparison is each buyer's cash at the later of the two sales; the buyer who sold first holds the proceeds as cash until then. The result does not depend on the starting sum, as long as that sum covers each buyer's largest payment.

• Resale buyer. Pays the deposit, stamp duty and legal fees, and draws the whole loan, at purchase. Pays for a renovation at purchase and rents a 3 bedroom elsewhere for 3 months while it is done. Pays maintenance, upkeep and owner-occupier property tax from purchase.
• Launch buyer. Pays the booking fee and the downpayment in force on the purchase date, then the progressive payments as the building goes up, with interest on the loan drawn so far. Rents a 3 bedroom elsewhere every month until completion, pays a fit-out of 1.5% of the price at completion, moves in the month after, and from then pays maintenance, upkeep and owner-occupier property tax. The construction stages are spread over each cell's median time to completion, so a launch that completes later also pays later.
• Both, at sale. The selling agent's commission of 2% of the sale price plus the GST in force on the sale date (7% to 2022, 8% in 2023, 9% from 2024), legal fees of $3,000, and the loan repaid.

Running costs and loan. Maintenance of $280 a month and upkeep of $1,200 a year for 474 square feet, scaled to each cell's floor area, as in the 3 bedroom launch-versus-resale note; legal fees on purchase of $3,000; and a 30-year loan at the mortgage rate shown, with 2.5% the headline rate. Owner-occupier property tax is charged at the schedule in force in each year, on an annual value taken as that year's market rent for the unit. It applies from purchase for the resale buyer, renovation months included, which is how IRAS applies the owner-occupier rates to a citizen or permanent resident's home. Strictly, an empty home does not qualify; the difference is 3 months' tax. Unspent cash earns 2.5% a year, the CPF Ordinary Account rate in every quarter from 2011 to 2025.

Rent paid while waiting. The median monthly rent per square foot of a 3 bedroom in URA rental contracts, for the year the rent is paid, applied to the cell's median floor area: the whole market for the headline tables, and each region for its own rows.

Year	Whole market	Suburbs (OCR)	City fringe (RCR)	Prime (CCR)
2012	$3.18	$2.79	$3.08	$3.94
2013	$3.27	$2.82	$3.19	$4.00
2014	$3.19	$2.72	$3.10	$3.78
2015	$2.99	$2.57	$2.93	$3.59
2016	$2.83	$2.44	$2.83	$3.42
2017	$2.74	$2.30	$2.73	$3.38
2018	$2.75	$2.38	$2.73	$3.35
2019	$2.74	$2.38	$2.71	$3.39
2020	$2.71	$2.34	$2.66	$3.28
2021	$2.80	$2.44	$2.74	$3.38
2022	$3.34	$2.93	$3.25	$4.01
2023	$4.12	$3.72	$4.07	$4.84
2024	$4.11	$3.64	$4.09	$4.62
2025	$4.20	$3.72	$4.20	$4.69

Completion. The records give a development's completion year only. Completion is read as 1 July of that year, and the launch side's time to completion is the median over its pairs. What else moves the answer? shows it 6 months shorter and longer. A launch sold in its completion year is left out, because a year alone cannot say whether the owner moved in before selling.

By purchase period

At a 2.5% mortgage rate, the break-even for all resales and for each age band, by when the resale was bought.

Bought	All resales	0 to 5	6 to 15	16 or more
2015	Launch ahead	Launch ahead	Launch ahead	Launch ahead
2016	1.0%	Launch ahead	1.1%	5.2%
2017	7.4%	0.2%	8.0%	11.7%
Jan to Jul 2018	8.7%	5.0%	8.4%	12.5%
Jul to Dec 2018	0.5%	1.5%	Launch ahead	1.2%
2019	4.8%	0.3%	5.6%	6.2%
2020	6.6%	3.2%	8.34%	8.25%

Cash figures for the 'Launch ahead' cells:

• 2015, all resales: resale buyer −$209,697, launch buyer −$127,915
• 2015, 0 to 5 years old: resale buyer −$323,372, launch buyer −$128,178
• 2015, 6 to 15 years old: resale buyer −$206,372, launch buyer −$128,178
• 2015, 16 years or older: resale buyer −$167,552, launch buyer −$127,915
• 2016, 0 to 5 years old: resale buyer −$182,263, launch buyer −$108,508
• Jul to Dec 2018, 6 to 15 years old: resale buyer $24,863, launch buyer $37,619

Pairs in each period:

• 2015: 232 resales (40, 118 and 74 by age) against 163 launch
• 2016: 342 resales (70, 153 and 119 by age) against 240 launch
• 2017: 394 resales (95, 148 and 151 by age) against 347 launch
• Jan to Jul 2018: 198 resales (52, 66 and 80 by age) against 112 launch
• Jul to Dec 2018: 115 resales (40, 48 and 27 by age) against 60 launch
• 2019: 257 resales (73, 86 and 98 by age) against 268 launch
• 2020: 256 resales (62, 94 and 100 by age) against 317 launch

The order by age holds in five of the seven periods. In the second half of 2018, a buyer of a resale up to 5 years old could spend more on renovation than a buyer of a resale 16 years or older, and a buyer of a resale 6 to 15 years old could spend nothing. In 2020, a buyer of a resale 6 to 15 years old could spend slightly more than a buyer of a resale 16 years or older; those two cells are printed to two decimal places.

Break-evens by region at four mortgage rates

The break-even for all resales and for each age band, in each region, at each mortgage rate. The pairs are those under each region table above.

Held about 5 years

Region and rate	All resales	0 to 5	6 to 15	16 or more
Suburbs (OCR), 1.5%	6.8%	4.0%	5.2%	10.5%
Suburbs (OCR), 2.5%	5.7%	3.0%	4.0%	9.6%
Suburbs (OCR), 3.5%	4.6%	1.9%	2.8%	8.7%
Suburbs (OCR), 4.5%	3.5%	0.8%	1.5%	7.8%
City fringe (RCR), 1.5%	3.8%	Launch ahead	2.3%	7.3%
City fringe (RCR), 2.5%	2.4%	Launch ahead	1.0%	6.0%
City fringe (RCR), 3.5%	1.0%	Launch ahead	Launch ahead	4.7%
City fringe (RCR), 4.5%	Launch ahead	Launch ahead	Launch ahead	3.4%
Prime (CCR), 1.5%	8.7%	1.1%	7.9%	15.7%
Prime (CCR), 2.5%	6.9%	Launch ahead	6.0%	14.2%
Prime (CCR), 3.5%	5.0%	Launch ahead	4.1%	12.7%
Prime (CCR), 4.5%	3.1%	Launch ahead	2.1%	11.1%

Cash figures for the 'Launch ahead' cells:

• City fringe (RCR), 1.5%, 0 to 5 years old: resale buyer $15,884, launch buyer $28,843
• City fringe (RCR), 2.5%, 0 to 5 years old: resale buyer −$53,080, launch buyer −$6,609
• City fringe (RCR), 3.5%, 0 to 5 years old: resale buyer −$123,297, launch buyer −$42,332
• City fringe (RCR), 3.5%, 6 to 15 years old: resale buyer −$50,088, launch buyer −$42,245
• City fringe (RCR), 4.5%, all resales: resale buyer −$86,660, launch buyer −$78,120
• City fringe (RCR), 4.5%, 0 to 5 years old: resale buyer −$194,572, launch buyer −$78,281
• City fringe (RCR), 4.5%, 6 to 15 years old: resale buyer −$111,637, launch buyer −$78,120
• Prime (CCR), 2.5%, 0 to 5 years old: resale buyer −$271,999, launch buyer −$234,982
• Prime (CCR), 3.5%, 0 to 5 years old: resale buyer −$388,364, launch buyer −$278,722
• Prime (CCR), 4.5%, 0 to 5 years old: resale buyer −$506,541, launch buyer −$322,602

Held about 10 years

Region and rate	All resales	0 to 5	6 to 15	16 or more
Suburbs (OCR), 1.5%	0.5%	Launch ahead	Launch ahead	7.8%
Suburbs (OCR), 2.5%	Launch ahead	Launch ahead	Launch ahead	6.1%
Suburbs (OCR), 3.5%	Launch ahead	Launch ahead	Launch ahead	4.4%
Suburbs (OCR), 4.5%	Launch ahead	Launch ahead	Launch ahead	2.5%
City fringe (RCR), 1.5%	3.1%	Launch ahead	3.7%	5.8%
City fringe (RCR), 2.5%	1.6%	Launch ahead	2.3%	4.7%
City fringe (RCR), 3.5%	0.0%	Launch ahead	0.8%	3.4%
City fringe (RCR), 4.5%	Launch ahead	Launch ahead	Launch ahead	2.0%
Prime (CCR), 1.5%	9.5%	3.1%	13.4%	17.7%
Prime (CCR), 2.5%	8.8%	1.2%	13.2%	16.7%
Prime (CCR), 3.5%	8.1%	Launch ahead	12.8%	15.6%
Prime (CCR), 4.5%	7.2%	Launch ahead	12.5%	14.5%

Cash figures for the 'Launch ahead' cells:

• Suburbs (OCR), 1.5%, 0 to 5 years old: resale buyer −$132,488, launch buyer −$110,451
• Suburbs (OCR), 1.5%, 6 to 15 years old: resale buyer −$131,825, launch buyer −$110,451
• Suburbs (OCR), 2.5%, all resales: resale buyer −$196,182, launch buyer −$178,719
• Suburbs (OCR), 2.5%, 0 to 5 years old: resale buyer −$235,125, launch buyer −$178,719
• Suburbs (OCR), 2.5%, 6 to 15 years old: resale buyer −$221,178, launch buyer −$178,719
• Suburbs (OCR), 3.5%, all resales: resale buyer −$292,404, launch buyer −$248,477
• Suburbs (OCR), 3.5%, 0 to 5 years old: resale buyer −$341,370, launch buyer −$248,477
• Suburbs (OCR), 3.5%, 6 to 15 years old: resale buyer −$313,671, launch buyer −$248,477
• Suburbs (OCR), 4.5%, all resales: resale buyer −$391,466, launch buyer −$319,507
• Suburbs (OCR), 4.5%, 0 to 5 years old: resale buyer −$450,752, launch buyer −$319,507
• Suburbs (OCR), 4.5%, 6 to 15 years old: resale buyer −$408,895, launch buyer −$319,507
• City fringe (RCR), 1.5%, 0 to 5 years old: resale buyer −$234,013, launch buyer −$150,760
• City fringe (RCR), 2.5%, 0 to 5 years old: resale buyer −$385,974, launch buyer −$243,485
• City fringe (RCR), 3.5%, 0 to 5 years old: resale buyer −$543,447, launch buyer −$338,325
• City fringe (RCR), 4.5%, all resales: resale buyer −$466,794, launch buyer −$433,187
• City fringe (RCR), 4.5%, 0 to 5 years old: resale buyer −$705,720, launch buyer −$434,973
• City fringe (RCR), 4.5%, 6 to 15 years old: resale buyer −$448,720, launch buyer −$433,187
• Prime (CCR), 3.5%, 0 to 5 years old: resale buyer −$712,955, launch buyer −$686,544
• Prime (CCR), 4.5%, 0 to 5 years old: resale buyer −$950,710, launch buyer −$850,466

Largest development removed

The break-even for all resales in each region, with the largest development removed from each side.

Held about 5 years

Region	At 1.5%	At 2.5%	At 3.5%	At 4.5%
Suburbs (OCR)	7.3%	6.4%	5.4%	4.3%
City fringe (RCR)	5.4%	4.3%	3.2%	2.1%
Prime (CCR)	10.0%	8.7%	7.3%	5.8%

Held about 10 years

Region	At 1.5%	At 2.5%	At 3.5%	At 4.5%
Suburbs (OCR)	0.6%	Launch ahead	Launch ahead	Launch ahead
City fringe (RCR)	8.4%	7.3%	6.1%	4.7%
Prime (CCR)	21.4%	21.5%	21.5%	21.4%

Cash figures for the 'Launch ahead' cells:

• Suburbs (OCR), at 2.5%: resale buyer −$196,586, launch buyer −$183,826
• Suburbs (OCR), at 3.5%: resale buyer −$293,006, launch buyer −$255,972
• Suburbs (OCR), at 4.5%: resale buyer −$392,273, launch buyer −$329,473

Data. URA private residential transactions to 29 September 2026, and URA private rental contracts to 2025. Every figure on this page is registered and re-computed from the records.