Is an old resale condo in Singapore really 40% cheaper than a new one? In this video, I compare two real 99-year leasehold projects on the SAME road in Hougang — The Florida (completed 2000) and Riverfront Residences (completed 2024) — using actual transaction data from the past 12 months.

On paper, the older condo looks close to 40% cheaper on a per square foot basis. But when you compare the actual transacted prices for a 3-bedroom home, the real gap is only about $150K. In May 2026, both projects transacted their cheapest 3-bedders just 3 days apart — and the numbers will surprise you.

As an ex-licensed valuer turned property agent, I’ll walk you through:
✅ Why PSF is the most misleading number in property
✅ The “day-one owner problem” nobody talks about
✅ How lease decay quietly affects your future buyer’s CPF and bank loan
✅ The hidden renovation and sinking fund costs of older condos
✅ The 4 questions I run through with every client before buying an older condo

⏱️ TIMESTAMPS
0:00 – The question every buyer asks
1:15 – Being fair to old condos
2:00 – Why old condos are tempting
3:00 – The PSF illusion (real transaction data)
5:45 – The day-one owner problem
7:15 – Lease decay & financing reality (CPF age-95 rule)
9:15 – The hidden costs (renovation & sinking fund)
10:30 – Total cost of ownership
11:45 – The 4 questions before you buy
13:15 – My honest verdict

📲 Thinking about an older resale condo? Everyone’s situation is different — drop me a WhatsApp and let’s talk it through properly: https://wa.me/6584688484

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Jay Chua | Associate Group Director, PropNex | Ex-Licensed Valuer
CEA No: R043558B

Data source: PropNex Investment Suite, transactions Jul 2025 – May 2026. All figures verified at time of filming. This video is for general education and is not financial advice — always assess based on your own circumstances.