New condominiums in Singapore's prime districts could soon average more than $3,500 psf, and suburban launches $3,000 psf, PropNex chief executive Kelvin Fong told a media briefing, The Edge Singapore reported. His reason is simple: the land under the next wave of launches cost much more than the land under today's.
Roov's own land-price model points the same way. Here is the arithmetic, and what it means if you are choosing between a launch now and one later.
From land price to launch price
Roov's model turns a land price into a developer's break-even and an indicative launch price, using standard build-cost and financing assumptions and the stamp duties in force. On Vela Bay's land, bought at $1,388 psf per plot ratio in 2025, it gives about $2,896 psf. Vela Bay has actually sold at an average of about $2,886 psf, so the model is close.
On this year's land the same model gives:
Peck Hay Road, prime (CCR), $1,865 psf ppr: about $3,620 psf Lorong Puntong, city fringe (RCR), $1,612 psf ppr: about $3,240 psf New Upper Changi Road, suburbs (OCR), $1,537 psf ppr: about $3,120 psf
So $3,500 psf for the prime districts and $3,000 psf for the suburbs are not stretches; on land bought in 2026, they are close to where developers need to be. Our review of a decade of GLS land prices explains why land has climbed, and the developer break-even tool runs the sum for any site.
Where prices are today
In Roov's URA records, using URA's own region for each project, new condominiums have sold at a median $3,150 psf in the CCR so far this year, $2,655 psf in the RCR and $2,377 psf in the OCR. Many projects selling now sit on land bought in 2022 to 2024 at $1,000 to $1,300 psf ppr, which is why today's suburban launches are still well short of $3,000.
The gap between prime and city-fringe launches has narrowed. Fong pointed to city-fringe projects such as Zyon Grand and Promenade Peak averaging just over $3,000 psf, close to Amberwood at Holland at about $3,019 psf.
Freehold costs little extra
In the CCR, freehold new homes have sold at almost exactly the same price as 99-year leasehold ones this year in Roov's records: a median $3,144 psf against $3,155 psf. Freehold stock is thin, with only about 130 unsold freehold new units in the prime region according to The Edge. Freehold is not automatically the better buy, though: what matters is the price you pay against what nearby homes resell for. Our freehold versus 99-year comparison looks at the evidence.
What it means if you are buying
If launches on 2026 land will come in higher, today's launches and resale homes are the cheaper entry, provided the numbers work for you. Roov's resale versus new launch comparison sets the two side by side on total cost, the progressive payment tool shows what a launch asks of your cash and CPF at each stage, and the affordability calculator shows what you can borrow. Our guide to buying a new launch condo covers the steps, and our earlier piece on Thomson Reserve's prices shows the comparison worked through for one launch.
Choosing between a launch now, one later, or resale? Roov's agent can compare the projects on your shortlist. Get in touch.