Originally Posted by
teddybear
Are these new? Ans: No. Older condos have are much more spacious than the new ones, more usable space (means you pay even less $PSF if you consider only the usable space, not those planter areas you can't use and access, those big big air-con ledges for what?!, those big balconies for what when your rooms are big enough for dwarfs and hobbits?!)
The real reason why new launch are popular:
1) 4 years SSD will be over by the time the properties about to TOP.
2) Pay 20% option can buy a property, the rest of 20% cash can wait for up to 2 years (better leverage, circumvent the 60% LTV problem), don't have to take up loan and pay interest for next 60% loan.
3) Buyers limited cash, no cash to renovate, so can't buy resale that is 35%-50% cheaper than new launch, die die must pay 35-50% more for new launch!