Okay, I’ve reviewed the provided text and tables. Here’s a summary of the key findings and insights, focusing on the price gaps between new launch and resale properties, especially for 2-bedders and 3/4-bedders in District 5:
Key Takeaways:
2-Bedder Trade-Off: The article highlights a important trade-off between buying a new launch 1-bedder versus a resale 2-bedder. For the price of a new 1-bedder (like at Blossoms by the Park), you could perhaps get a larger, resale 2-bedder in developments like Whistler grand, The Clement Canopy, or Twin VEW. The article emphasizes that while there’s a psychological preference for new properties, resale offers more space for the same dollar amount.
3/4-Bedder Price Gaps: The article then shifts too analyzing the price differences between new launch and resale 3-bedroom and 4-bedroom units.
New Launch Price Gap Widening: The price difference between new 3-bedders and new 4-bedders has significantly increased in recent years. From 2014-2021, the gap was typically 10-25%. However, from 2022 onwards, it widened dramatically. In 2023, a new 4-bedder cost, on average, $1.08 million more than a new 3-bedder.
resale Price Gap: The tables also show the price difference between resale 3-bedders and resale 4-bedders.
New 3-Bedder vs. Resale 4-Bedder: The article poses the question of whether you could buy a resale 4-bedder for the price of a new 3-bedder. The answer is “not yet, but it may be getting there.”
Summary of the Tables:
new Sales Table: Shows the average prices of new 3-bedroom and 4-bedroom units from 2014 to 2024, along with the price difference and percentage difference.
Subsale/Resale Table: Shows the average prices of resale 3-bedroom and 4-bedroom units from 2014 to 2024, along with the price difference and percentage difference.
Price Gap Table: Compares the price gaps:
Between new 3-bedder and new 4-bedder
Between new 3-bedder and resale 4-bedder
* Between resale 3-bedder and resale 4-bedder
In essence, the article is exploring the value proposition of buying resale properties versus new launches, particularly in the context of rising property prices and the desire for more space.
