What Singaporean Homebuyers Really Want In New Launch Condos In 2024
When we ask questions at showflats, we’re often given answers that begin with “People like…” or “Buyers prefer…” But we’ve learned to take that with a grain of salt. After all, we were once told the reason for gigantic planter boxes is that “condo buyers like to have a chance to own a garden, like landed property owners.” We all know how true that turned out to be (thank goodness for Gross Floor Harmonisation finally correcting it). So we asked around on the ground, and here’s some of what buyers really seem to want of late. Besides lower prices, of course!
1. A proper estimate of when buyers can move in
This is probably because a big segment of buyers today are upgrading from HDB flats – and when you’re upgrading, the timeline is everything. Unlike a resale condo, there’s no way to move in until quite some time down the road – but at the same time, the upgraders need temporary accommodation; and they have a lot of stuff (big TVs, furniture, etc.) that has to be stored. So when there’s no clear indication of when they’re likely to move in, it becomes a headache to plan the logistics.
One example was a couple who thought they’d be able to stay in their in-laws’ vacant flat for two years, before moving into their new condo. The flat was intended to be sold right after. Their new development ended up taking almost another year to complete, and their in-laws were insistent on selling before then. The couple ended up needing to rent a unit and pay for storage for a year.
This is also an issue for investors, such as those buying small units to rent out. For this batch of buyers, developers being opaque about completion dates can affect their bottom line: when a landlord buys closer to the TOP, it’s often at a higher price (condo units are cheapest in the earliest sales phases). The tradeoff is that, if the condo is closer to completion, the landlord can start renting out the unit sooner; so you can understand how they’d be miffed if the completion time is significantly later than expected.
Developers will always want to keep from overcommitting though, so we doubt many of them will be more transparent on this. As a tip, do note that developers with remaining units will tend to hurry completion, as it’s easier to sell finished units.
2. More emphasis on common facilities for children
There’s a certain assumption that facilities like playgrounds, or more extensive kiddy pools, are less necessary these days. In fact, a senior executive in a development firm, whom we can’t name, has spelt it out for us: In an age where most children are playing indoors (PCs, game consoles, mobile games, etc.), outdoor facilities are increasingly deemed unnecessary.
Then there’s the issue of liability, as playgrounds give rise to safety concerns (you’ll notice certain classics, like see-saws, climbing nets and spinners, are no longer included for safety reasons).
We suppose that makes a sort of sense, in catering to present lifestyle tendencies. But it detracts from parents who are trying to make their children go out and socialise more – a task made all the more difficult when the “playground” is one lonely slide and two rocking horses, or the kiddy pool is almost exclusively a toddler affair.
There’s also a tendency for condos to overlook spots for children to hang out and play, as clubhouse areas, BBQ areas, etc. are all catered to adults or older teens. This is exacerbated by how many condos are more secluded than HDB enclaves: there may not be a coffee shop, fast food outlet, etc. directly across the road for children to hang out after school.
So as much as the Government has been trying to encourage more families to have children in Singapore (hooray more parental leave), perhaps there can be more done on the infrastructure front within private developments. There could be more incentives or grants given to developers to encourage more useful facilities for children (indoor playgrounds, or kids clubs).
Right now it seems as if a lot of these facilities are just an afterthought (for example, a small playground erected just to fulfil a checklist). The other issue is that many small developments just don’t have the space to house any other facilities beyond a pool or BBQ pit. We do know of families who would have preferred to stay in a boutique development, just that the kid-focused facilities were absent – having some bonus space allocation to such features would certainly help.
3. More flexible layouts for smaller units
We’ve seen some great one-bedder layouts, like at Liv@MB. Versatile squarish shapes, choice of layout (you could choose between a studio layout and a classic one-bedroom), and living and dining areas facing the main door instead of opening directly into the kitchen. There’s also two-bedders with and without balconies, depending on whether you want them.
What was done at this project could just as easily be done in any other, so we’re not sure why we’re still seeing ugly layouts that enter from the kitchen, kitchen areas with only one functional wall for cabinetry, and unmovable walls that further hinder an already small one or two-bedder.
It might be a good idea for developers to take a page from HDB, and consider having some units that are just “blank canvases.” These will be especially good for smaller units inhabited by singles/lifelong singles, who may have different uses for their home. We know many single homeowners who use their one or two-bedders as music studios, photography studios, etc. as well as their home.
4. Stop harping on quantity and focus on more quality facilities
It’s time to stop counting every little thing, from a pebbly path to a rock in a mound of sand, as “facilities.” Yes, those could be called a foot reflexology path and a Zen garden, to drive up the “total facility” count – but buyers are starting to roll their eyes at this gimmick.
Rather than highlight “400+ FACILITIES!” It would be better if new launches just highlighted the key selling points: A larger infinity pool, better-equipped gym, the biggest sky garden in the neighbourhood, etc. are all highlights that are more useful to buyers to know. This also makes it easier to compare condos, and figure out which elements are most relevant to the buyers’ lifestyles.
This also goes for practical implementation: it’s better to have a few beautiful and comfortable outdoor BBQ pavilions (or even more indoor function rooms than we are starting to see less of), than to have twice that number of cramped spaces which no one wants to book.
The reality is that many of these facilities become white elephants that are not used, but still require time and money to upkeep. It would be better to allocate more resources to build and design better facilities that people actually use.
For more on what we’re hearing from the ground, follow us on Stacked. We’ll also update you with reviews of new and resale projects as they become available.
If you’d like to get in touch for a more in-depth consultation, you can do so here.
