Buying a New TOP Condo: A Smart Move or an Overpriced Mistake?

A Tale of Two Buyers: Who Made the Smarter Move?

Meet Jason and Amanda. They’ve both been hunting for a condo but had very different approaches.

🔹 Jason went for a new launch condo back in 2020. It wasn’t built yet, but he got an early bird price of $1,800 PSF for his 3-bedroom unit in District 15. His mortgage was low in the beginning because of the progressive payment scheme, and now, in 2025, the condo is completed.

🔹 Amanda, on the other hand, wanted to move in immediately, so she waited until the condo reached TOP in 2025. By then, the remaining units were priced at $2,200 PSF, a 22% increase from launch prices.

Who made the smarter move? Let’s break it down.

---

Why People Like Buying New TOP Condos

✔ No Construction Wait – Unlike new launches, which take 3-5 years to complete, a new TOP condo means you can move in right away.

✔ You Can See What You’re Buying – No need to rely on showflat models or digital renders—what you see is what you get.

✔ No Renovation Needed – Unlike resale condos that may require touch-ups, a TOP unit is brand new, with no wear and tear from previous owners.

But while all this sounds great, the real issue is whether you’re overpaying for convenience.

---

Why You Might Be Overpaying for a New TOP Condo

📌 1. TOP Units Are Usually More Expensive

Developers often increase prices as a project nears completion. Early buyers get launch discounts, but by the time the condo hits TOP, developers have less urgency to sell—meaning higher prices.

💡 Example:

- Jason bought at $1,800 PSF at launch.

- Amanda paid $2,200 PSF at TOP.

- That’s a $400 PSF price jump, meaning Amanda paid $240,000 more for the exact same unit type!

📌 2. Higher Resale Risk

If you buy a TOP condo at a premium, selling later could be a problem. Early buyers got lower prices, so if they decide to sell, they can undercut your asking price and still make a profit.

💡 Example:

- Jason (who bought at $1,800 PSF) can resell at $2,100 PSF and make a profit.

- Amanda (who bought at $2,200 PSF) needs to sell for even more just to break even.

📌 3. Lower Rental Yield Potential

TOP condos often see a surge of rental units hitting the market at the same time. If too many units are listed, rental prices drop, reducing potential returns.

💡 Example:

- If rental demand is $4,000/month, but many units are available, tenants have negotiating power.

- If Amanda has a high mortgage due to overpaying, she could struggle to cover her loan repayments through rent.

---

How to Buy a New TOP Condo Smartly

✔ 1. Compare Launch Prices – Before buying, check the original launch prices to see if the current TOP price is reasonable.

✔ 2. Check Nearby Resale Prices – If resale condos nearby are cheaper per square foot, reconsider paying a premium for a new TOP unit.

✔ 3. Prioritize Good Units – If you’re paying more, make sure your unit has strong resale appeal, such as:

- Unblocked views (sea, park, or city skyline).

- Efficient layout (no wasted space).

- Higher floor (better long-term value).

✔ 4. Think Long-Term – If your plan is to sell in a few years, make sure your TOP unit has future resale demand. If new launches nearby offer better value, your resale potential may be affected.

---

So, Who Made the Smarter Move?

💡 Jason paid less, waited a few years, and now has a unit that has already appreciated. He can sell it at a higher price or enjoy lower monthly mortgage repayments.

💡 Amanda, on the other hand, paid a premium for convenience. While she gets to move in right away, she now has to wait longer before her unit appreciates enough to make a profit.

That’s why buying a TOP condo isn’t always the best deal. If the price is too inflated, it might be smarter to either buy a resale unit or wait for a new launch at a better price.

---

Final Verdict: Should You Buy a New TOP Condo?

👉 YES, if:

✅ You want a move-in-ready home and don’t want to wait for a new launch.

✅ You’re buying for personal stay, not for short-term gains.

✅ You find a unit that is competitively priced compared to resale condos.

👉 NO, if:

❌ The price is significantly higher than launch or resale properties nearby.

❌ You plan to resell in a few years but expect competition from newer launches.

❌ Rental yields aren’t strong enough to cover your mortgage.

---

Final Thoughts

Buying a new TOP condo can be a smart move if the price is right. But paying a huge premium for immediate move-in can hurt your resale potential in the future.

The key is to do your homework—compare launch prices, resale alternatives, and rental demand before committing. If you play it smart, a TOP condo can still be a great buy—but only if the price makes sense.

Thinking about buying a condo? Let’s chat and explore your best options! 🏡📞

Buying a New TOP Condo: A Smart Move or an Overpriced Mistake?

When it comes to buying a condo, a newly TOP (Temporary Occupation Permit) project might seem like the best of both worlds—brand new, move-in ready, and no long construction wait. But before you jump in, are you actually making a smart financial move, or are you paying a premium for convenience? Let’s break it down.

Looking to Buy or Sell your home? Have some questions for us?

Leave us a message and we will be in touch with you shortly.