Does Old Condos Still Shine in Today’s Market?

In today’s property market, it often feels like the spotlight is always on new launches — sleek towers with state-of-the-art gyms, sky gardens, and infinity pools. But quietly, away from the buzz, older condominiums are enjoying a revival of interest. Buyers are beginning to ask: Do old condos still have a place in today’s market? The answer is a resounding yes — and here’s why.

Source: The Straits Times

1. Bigger Living, Smarter Living

If you step into a condo built in the 1980s or 1990s, the difference in space is immediately obvious. Back then, developers weren’t under the same land constraints as today, and units were designed for families to truly live in.

• Spacious layouts: Proper dining rooms, wider living halls, and larger bedrooms are the norm.

• Lifestyle flexibility: Extra space allows families to set up home offices, hobby corners, or even accommodate multi-generational living.

In contrast, many newer projects prioritise efficiency and compact living, which works for some buyers but not all. For those who want space to breathe, older condos are a refreshing alternative.

2. Real Value for Money

It’s not just about the square footage — it’s about the price point. Older condos often provide a more favourable price-to-space ratio.

For example, while newer projects may be priced at a premium per square foot, older units can sometimes be 15–20% lower, yet offer 20–30% more space. For buyers with growing families, or those who want a comfortable retirement home, that’s tremendous value.

Yes, maintenance costs may be higher, and facilities may not be as flashy, but for many, the trade-off is worth it: a home that feels like a home, not a shoebox.

3. Evolving Buyer Priorities

The pandemic years taught us the importance of space. Work-from-home and hybrid lifestyles have made buyers rethink what “livable” means.

• Families: Young couples planning for children prefer larger layouts to avoid the stress of upgrading too soon.

• Retirees: Many are “right-sizing” from landed homes into older condos — enjoying condo security and convenience without sacrificing comfort.

• Investors: With more tenants also seeking bigger living spaces, older condos in good locations can enjoy steady rental demand.

In short, buyers are no longer dazzled by novelty alone. Practicality, comfort, and livability are back in focus.

4. Investment Angle: Stability in Uncertain Times

From an investor’s point of view, older condos offer a different value proposition.

• Lower entry price: Makes financing more manageable and reduces risk.

• Established locations: Most older developments are in prime or mature estates, where demand remains strong due to schools, MRT lines, and amenities.

• Rental demand: Expats and local families alike appreciate the larger unit sizes, often translating into longer tenancy periods.

While lease decay is a real factor, it doesn’t erase the benefits if the entry price and location make sense. In fact, some older condos have even seen resale prices rise faster than expected, simply because newer launches can’t match their livability.

5. What Buyers Should Look Out For

Of course, not every older condo is a golden opportunity. Here are some key checks:

• Lease balance: Ensure there are still enough years left to support your financing and exit strategy.

• Maintenance: Visit the estate to see if facilities are well-kept. A strong MCST (management committee) makes a big difference.

• En-bloc potential: While speculative, some older condos may hold redevelopment value, especially if they sit on large plots with under-utilised GFA.

• Future URA plans: Check if the area is slated for transformation (new MRT lines, commercial hubs, etc.), which can add long-term upside.

Final Thoughts: Old but Gold

So, do old condos still shine in today’s market? Absolutely. They may not come with the glitz of brand-new showflats, but they deliver where it truly counts — space, comfort, and value.

For home buyers, this means the chance to secure a property that fits your lifestyle without over-stretching financially. For investors, it’s about identifying developments where entry price, location, and tenant demand align.

At the end of the day, buying property is never just about the newest launch. Sometimes, the best gems are the ones that have stood the test of time.

If you’re exploring whether an older condo could be the right fit for your next move — whether for own stay or investment — let’s connect. I can help you analyse the numbers, assess potential, and find the right match for your long-term goals.