Exactly. That is why I am also telling people about the price of Westside1 and Nortthshore. Despite the reasonable price, sub sale for the 2 condos is very slow but new launches at lousier locations and higher price sell like hot cake.    .i think because of 3 major reasons:-

1. Capital leveraging. Most if not all of new projects provide DIBS where buyers only need to fork out 10-30% of capital until VP whereas for sub sale, repayment of loan (which can be quite painful) starts immediately. Moreover,if it is not for own stay, it will be left vacant with no immediate yield.

2. Valuation is the biggest hindrance for sub sale. A lot of DPC us sales cannot a high enough valuation for buyers to get sufficient loan so that they don't burn a big hole their pocket. Whereas for new projects, the developers will kowtin the end financiers, so no valuation problem.

3. Buyers Kiasu and Kiasi mentality. When see a lot of people talk about the project or see a lot of people in the sales office, then cannot go wrong. Seeing a lot of stickers on sales motivates one to also want to put their own sticker. Whereas us sale, you are the only one. You see nobody, you hesitate.

Last but not least, for new launches, you just visualise the dream property based on show house, developers' description, nice pictures, artist impression etc. 100% perfect. You don't see the rubbish dump site, no high tension cable, no ugly squatters, no double or triple parking, no foreigners loitering, no Africans neighbours, no defects, no..no...no...... When comes to sub sale, welcome to reality. That is why nowaday so many people prefer to get girl friends in social media after seeing their photos and the sweet words the girls used......and get conned     All the best guys and Good Morning!