New condo launches present an attractive option for potential homeowners due to their relatively lower ongoing costs, particularly within the first 5 to 10 years of ownership. On the other hand, purchasing an old condo may entail expensive renovations or the replacement of worn-out systems, resulting in a higher overall investment.

One factor that makes 99-year leasehold properties attractive is their lower initial cost compared to freehold properties. In cities like Singapore, where land is limited, freehold properties come at a premium price, making them unaffordable for many buyers. 99-year leasehold properties offer a more affordable option for those who want to live in the heart of the city, without breaking the bank. This lower price point also makes it easier for first-time homebuyers to enter the property market, allowing them to build equity and upgrade to a larger home in the future.

One of the main concerns of buying …