Why I Don’t Buy New Condo Launch in Singapore
Buying a new condo launch in Singapore can be an exciting prospect. With the promise of luxurious amenities and the latest design trends, it's no wonder that many people are drawn to these properties. However, for some, the excitement may be short-lived, as they begin to realize the potential downsides of buying a new condo launch.
In this blog post, we will explore some of the reasons why some people may choose not to buy new condo launches in Singapore.
Reason #1: Higher prices
One of the primary reasons why some people may choose not to buy new condo launches is because of the higher prices. Developers often charge a premium for new condo launches, as they are usually marketed as being the latest and greatest in terms of design and amenities.
However, this premium can come at a cost to buyers, who may end up paying more for a property that is not necessarily better than an older one. In some cases, buyers may even end up overpaying for a new condo launch, as developers may inflate prices in anticipation of high demand.
Reason #2: Uncertainty in the property market
Another reason why some people may choose not to buy new condo launches is because of the uncertainty in the property market. The property market can be unpredictable, with prices fluctuating rapidly based on a variety of factors such as economic conditions, government policies, and market sentiment.
As a result, some buyers may be hesitant to invest in a new condo launch, as they are unsure whether the property market will remain stable or whether they will be able to sell the property at a profit in the future.
Reason #3: Long wait times
Buying a new condo launch in Singapore often means having to wait a significant amount of time before the property is ready for occupancy. Developers typically take several years to complete new condo projects, and even longer for larger developments.
This long wait time can be a source of frustration for some buyers, who may need to find alternative housing arrangements while they wait for their new condo to be completed. Additionally, some buyers may be hesitant to commit to a property that won't be ready for several years, as they may experience changes in their personal or financial situations in the meantime.
Reason #4: Less flexibility in design
New condo launches are often marketed as being the latest and greatest in terms of design and amenities. However, this also means that buyers may have less flexibility when it comes to customizing their new property.
Developers typically have a set design and floor plan for new condo launches, and may not be willing to make significant changes to accommodate individual buyer preferences. This can be a source of frustration for some buyers, who may want to personalize their new property to better suit their needs and tastes.
Reason #5: Greater risk of defects
New condo launches are often built using the latest construction methods and materials, which can be a selling point for some buyers. However, this also means that there is a greater risk of defects or issues with the property.
New properties may experience teething problems such as water leaks, faulty electrical wiring, or poor workmanship. While developers are required to rectify such defects under the Defects Liability Period, this process can be time-consuming and frustrating for buyers who are eager to move into their new property.
Buying a new condo launch in Singapore can be an exciting prospect, but it's important for buyers to consider the potential downsides before making a purchase. Higher prices, uncertainty in the property market, long wait times, less flexibility in design, and greater risk of defects are all factors that buyers should take into account before committing to a new condo launch.
Top 30 Agents for New Condo Sales - Year 2025
1. Market Analysis Report: Top 30 Agents for New Condo Sales (2025)
Huttons Asia holds a dominant position in this segment, particularly at the very top of the list.
The largest agency, Propnex, has its agent appear only at position 22.
This detailed report provides a comprehensive breakdown of the new launch condominium market in 2025, focusing on the performance of the top 30 agents and the strategic implications for Singapore's major real estate agencies.
In 2025, the new condominium segment recorded 5,845 sales. Of the approximately 37,000 registered agents in Singapore, only 2,783 unique agents (about 7.5% of the total agent population) successfully closed at least one new condo deal.
Top 30 Performance: The top 30 agents alone accounted for 575 sales, representing 9.84% of the entire market's new condo volume.
Production Gap: The top 2 agents (Leow Chee Loon and Pang Cheng Wan) closed significantly more deals than their peers, indicating a specialized focus on high-volume project launches.
2. Institutional Findings & Implications
A. Huttons Asia: The "Project Marketing" Specialist
Finding: Huttons dominates the Top 30 with 19 out of 30 agents (63%).
Implication: Despite having a smaller total headcount than PropNex or ERA, Huttons has clearly optimized its training and internal culture for new launches. They effectively act as a "specialist" agency for developers.
Strength: Highly concentrated expertise. If a developer wants high-velocity sales, Huttons' top tier of "fighters" is exceptionally effective.
B. PropNex & ERA: Volume through Scale
Finding: PropNex (6 agents) and ERA (5 agents) have fewer representatives in the Top 30 relative to their size.
Implication: For these giants, revenue is generated through "scale" rather than "concentration." While they have elite producers, their strength lies in the massive number of agents closing 1–2 deals each, rather than a handful of super-producers closing 50+ each.
Strength: They provide the "ground support" for every launch, ensuring that almost every project has at least some activity.
C. The "Pareto" Concentration
Finding: The Top 30 agents are nearly 13 times more productive than the average agent who closed at least one sale.
Implication: Real estate is increasingly becoming a game of "specialized niches." Agents who do not specialize in project launches find it difficult to compete with top performers, who likely have systematic methods for lead generation and developer relationships.
3. Strategic Recommendations
For Developers: While PropNex and ERA provide the necessary manpower to cover the market broadly, Huttons provides the "strike force" of elite sellers who can significantly move the needle on take-up rates during the launch weekend.
For Aspiring Agents: To break into the top 30, specialization is non-negotiable. The data suggests that success in new condo sales is not about "luck" but about a high-volume, repeatable sales process, as seen in the wide gap between the #1 rank (72 sales) and #30 rank (12 sales).
For Consumers: If you are looking to purchase a new condo, an agent from the top of this list is likely to have deep insights into developer pricing strategies and unit selection "hacks" that a generalist agent might lack. Hutton's agents are a good choice based on this data.
Report Summary: 2025 confirmed that while the market is large, the peak performance is concentrated in a tiny fraction of the industry, with Huttons Asia successfully positioning itself as the elite hub for new launch "fighters."
