Can an old condo perform better than a new condo? Here are 3 real-life examples

Sourced By: 

A common sales pitch is that newer condos tend to outperform older ones; whether due to the shiny newness factor, having newer facilities, or maybe a more suitable, modern layout.

Some seasoned property investors have also disputed this, however, with some insisting that resale condos offer better potential for appreciation.

There are even investors who swear by the oldest properties, which have lower price points due to advanced lease decay. Who's right?

Here are some comparisons that are close as possible to find where older condos actually outperformed newer condos:

Comparisons over the past decade

The following are comparisons between newer and older condo units, which are as close in location and size as we were able to find. The overall performance is based on transactions over the past decade, from 2012 to 2022.

1. Robinson Suites versus Emerald Gardens

Let's look at the first contender - Robinson Suites and Emerald Gardens

Both condos are situated in District one, Robinson Suites is freehold, while Emerald Gardens is 999-years, which is typically seen to be as good as freehold.

Robinson Suites was actually launched in Dec 2010, and prices were even higher at an average of $3,026 psf. By 2013 when it came to sub sales, that had dropped to $2,972 (just the one transaction), and an even steeper drop to $2,294 the following year in 2014.

Since it was built in 2016, prices have stabilised around $2,400 psf.

Without going too deep into it, one simple reason could be due to the timing of the launch of Robinson Suites (and this is a consistent theme that you'd see with the rest). It was launched between 2010 to 2013, and this was the same period that coincided with the rise to the peak of the property market.

READ ON