Serangoon condos: new sales cost 56% more psf than resales, 97% more in quantum

Within 1.5 km of Serangoon MRT station, condos bought new from the developer sold at a median of $2,679 psf in the 12 months to September 2026 12. That is about 56% more per square foot than resale condos, at $1,719 psf 1. On quantum the gap was 97%: a median $3.23m against $1.64m 1.

Those two numbers answer the question, but they do not tell a buyer the same thing. The psf gap has stayed in a fairly narrow band for five years. The quantum gap has swung from about 10% to about 99%, depending on which units the developers happened to be selling 1. This guide sets out both, explains why they differ, and shows how to read a Serangoon price without being misled by either.

The figures come from the URA Data Service's record of private residential transactions, queried by Sightlines for condominiums and apartments within a 1.5 km radius of the station 12. The query was limited to postal districts 13, 19 and 20, where every sale carries map coordinates; the same radius without that limit returns the same 545 sales over the past 12 months 1. A new sale is a unit bought from the developer. A sub sale is a unit resold before the project's completion. A resale is a unit resold after it. Quantum is the total price paid; psf is that price divided by the strata area URA records, converted to square feet 1. Every window below is in contract months.

How far apart are new and resale prices around Serangoon today?

In the 12 months from October 2025 to September 2026, URA recorded 545 condo and apartment sales within 1.5 km of Serangoon MRT station: 125 new sales, 26 sub sales and 394 resales 1. Landed homes and bulk purchases are left out 1.

Source: URA Data Service, private residential transactions, condominiums and apartments within 1.5 km of Serangoon MRT station 12; Sightlines analysis.

Two things stand out. The new-sale psf range is tight: half of all new sales fell between $2,520 and $2,730 psf, while their quantum ranged far more widely, from $2,031,000 to $3,317,600 1. The resale psf range is wide, from $1,533 to $2,056 for the middle half, because resales span projects with leases that began as early as 2000 and projects whose leases began in 2016 and 2017 1.

The other is that the new-sale median rests on very few projects. Of the 125 new sales, 115 were at Chuan Park, a 99-year leasehold project whose lease began in 2024, and 10 were at Jansen House 1. That is 92% of the new sales in one development 1. So "the new-launch price in Serangoon" over this year is, in practice, the price of the units one project had left to sell.

For context, the wider suburban market showed a smaller gap. The Outside Central Region (OCR) is the URA segment made up of areas outside the Central Region, including the East, North East, North and West Planning Regions 5. Across it, new sales had a median of $2,256 psf and a quantum of $2,056,000, against $1,566 psf and $1,500,000 for resales over the same 12 months, a psf gap of about 44% 15. The Serangoon new-sale median was about 19% above the OCR's, and its resale median about 10% above 1.

Why does the quantum gap swing while the psf gap holds?

Quantum is psf multiplied by size. When two groups of homes have different sizes, the quantum gap and the psf gap can tell different stories. Around Serangoon, that is exactly what has happened.

Source: URA Data Service, private residential transactions within 1.5 km of Serangoon MRT station 12; gaps are Sightlines calculations. The latest months of 2026 are provisional and may still change as caveats are lodged.

Across five contract years, new sales cost between 47% and 60% more per square foot than resales 1. The quantum gap, over the same years, ran from 10% to 99% 1. The psf figure is the steadier signal; the quantum figure mostly records which units were on sale.

One project shows this clearly. Chuan Park sold 722 units in 2024 at a median of $2,327,361 and $2,587 psf 1. In the first nine months of 2026 it sold 90 more at a median of $3,269,400 and $2,681 psf 1. The median psf rose about 4%, while the median quantum rose about 40% 1. The units sold later were, on the evidence of those two medians, mostly larger ones. A buyer reading only the 2026 quantum would conclude that new homes near Serangoon had become far dearer. On psf, they had not moved much.

2023 is the opposite case. Only 60 new sales were recorded within the radius that year, across a handful of projects, and their median quantum of $1,633,500 was only about 10% above the resale median 1. The psf gap that year, 47%, was at the bottom of the five-year range, not outside it 1.

The rule that follows is simple and reusable: compare new and resale on psf first, then check the quantum gap against it. If the two gaps differ widely, the homes being compared are not the same size, and the quantum figure is describing the unit mix, not the market.

What does the gap look like against young resale condos?

The 56% psf gap compares new homes with every resale nearby, including condos whose leases began as early as 2000 1. A household weighing a new unit against a resale usually has a younger resale in mind. The URA records allow that narrower comparison, project by project, for nearby developments with at least 10 sales in the 12 months to September 2026 1.

Source: URA Data Service, private residential transactions within 1.5 km of Serangoon MRT station 12; premiums are Sightlines calculations against Chuan Park's new-sale median.

Against the youngest projects nearby, sold as sub sales or resales, the premium for buying new shrinks to between 12% and 28% per square foot 1. Against projects whose leases began around 2000 to 2011, it rises to between 35% and 70% 1. Lease age and the project itself explain much of the headline gap.

Two cautions apply to this table. The Woodleigh Residences and Park Colonial sit in postal district 13 and are classed by URA in the Rest of Central Region (RCR), while Chuan Park is in the OCR, so they are not in the same segment 1. And project medians mix unit sizes, facilities and floor levels that this table does not show. It is a first-line read, not a valuation.

What does the same budget buy, new or resale?

A worked example makes the gap concrete. Take a household near Serangoon with a purchase budget of $1.8m, before stamp duties and other costs, a figure inside the middle half of resale prices near the station, $1,198,500 to $2,177,000 1.

• At the 12-month resale median of $1,719 psf, $1.8m buys about 1,047 sq ft 1.
• At Park Colonial's resale median of $2,302 psf, it buys about 782 sq ft 1.
• At Forest Woods' resale median of $2,089 psf, it buys about 862 sq ft 1.
• At the 12-month new-sale median of $2,679 psf, it buys about 672 sq ft 1.

The same $1.8m buys about 36% less space at the new-sale median than at the resale median 1. That is the trade a household is weighing: a newer building and a full lease against floor area.

The arithmetic is only a screen. Real homes do not come in the exact size a budget implies, and $1.8m sits below $2,031,000, the bottom of the middle half of new-sale prices near Serangoon, while it falls inside the middle half of resale prices 1. In practice, a household with this budget would mostly be looking at resale units, or at the smallest new units on offer, if any remain.

Are new and resale psf measured the same way?

Not always, and the difference matters most for Serangoon's newest projects. A joint circular from URA, SLA, BCA and SCDF changed how floor areas are defined for development applications submitted to URA from 1 June 2023, and for Government Land Sales sites launched for sale from 1 September 2022 3. Under it, floor areas are measured to the middle of the wall, all strata areas count as gross floor area, and voids are excluded from strata area 3.

URA's clarifications add that because strata air-conditioner ledges will be computed as gross floor area, such spaces in new developments are likely to be right-sized 4. URA's psf figure divides the price by the strata area it records 1. If a newer unit's recorded area leaves out space that an older unit's area included, the newer unit's psf will look higher for the same quantum.

This guide cannot say which nearby projects were approved under which rules: the transaction records do not say, and Sightlines has not checked each project's planning history. The practical lesson is to compare like with like, and always to read quantum beside psf.

What is happening to the wider market?

URA's flash estimate for the third quarter of 2026, released on 1 October 2026, put the private residential price index up 1.4% on the quarter 6. Non-landed prices in the OCR rose 2.2%, while those in the RCR rose 0.2% and those in the Core Central Region fell 0.1% 6. URA said the flash figures are based on transaction prices submitted for stamp duty and data on developers' sales up to mid-September, and that flash estimates may differ from the actual changes 6. Its full third-quarter statistics are due on 23 October 2026 6.

The Serangoon resale record is consistent with a slow climb. The resale median psf within 1.5 km of the station rose from $1,379 in 2022 to $1,721 in the first nine months of 2026, about 25% 1. The new-sale median psf rose from $2,190 to $2,668 over the same years, about 22% 1. Both moved; neither pulled away from the other.

What would change the answer?

The gap between new and resale prices around Serangoon is not fixed. Three things could shift it.

1. A new launch. With one project carrying 92% of the past year's new sales, a single new launch within 1.5 km of the station, priced above or below Chuan Park, would move the new-sale median quickly 1.
2. The unit mix. As the 2026 figures show, a developer selling mainly larger units can almost double the quantum gap while the psf gap barely moves 1. Check what was sold before reading a quantum median.
3. Completion. Once a project is completed, URA records its later sales as resales rather than sub sales 1. When Chuan Park's resales begin, the young-resale benchmark near the station will rise, and the gap between new and young resale may narrow.

A household that does nothing loses little by watching. The five-year record shows the psf gap held between 47% and 60% across very different market years 1. A gap well outside that band, in either direction, would be worth a closer look; one inside it is the market behaving as it has.

For a household deciding today, the evidence supports a short checklist:

• Compare on psf first, then quantum, and ask why the two gaps differ.
• Compare a new unit with resales of similar lease age, not with the area's median resale.
• Check how many projects sit behind a "new-launch median"; around Serangoon, it has mostly been one.
• Treat the most recent two months of data as provisional.

This is general information, not financial advice. Check the current rules with IRAS, HDB, CPF Board or your bank before you commit.