The changes brought on by the COVID-19 pandemic has resulted in a preference for larger homes that are closer to amenities such as gyms, parks, and schools.
After being cooped up at home and adapting to work from home arrangements, the COVID-19 pandemic has prompted Singaporeans to look for homes with more living space.
Knight Frank’s Global Buyer Survey 2021 showed that the “desire for more space (both indoors and outdoors) as well as to get better access to amenities ranked high” among factors considered by Singaporeans for relocation.
Related article: Singapore Work From Home Culture Is Changing How We Shop for Homes in 2021
“Singapore has one of the highest population densities in the world. Amid a pandemic where social and human activities were regularly disrupted by restrictions, there was an innate need to search for more space, both indoors and outdoors,” said the real estate consultancy.
The survey indicated that 27% of those who recently moved said more outdoor space played a major role in their home-buying decision.
As such, demand for landed homes has been steadily increasing over the past few months, particularly for Good Class Bungalows (GCBs), noted Knight Frank.
About 18% of respondents in Singapore cited more indoor space and access to better amenities such as parks, schools, and gyms as reasons for relocating during the pandemic.
Related article: 8 Benefits of Living Near Nature
“As homes become the focal point of more human activities, given the work-from-home (WFH) phenomena and movement controls in public areas, more space is required and preferred for living, working and recreation.”
Meanwhile, 50% of Singaporean respondents who have not moved plan to do so next year at suburban locations.
This comes as suburban homes are generally more affordable than those within the prime city area, “providing a sought-after alternative for buyers who prioritise larger living areas within a more modest budget”.
When it comes to property features, 71% of Singaporean respondents want homes with access to high-speed broadband, 70% prefer those with a home study/office, while 69% want homes with more indoor space.
“These top three chosen factors revolve around enhancing the home environment to suit WFH-arrangements, as some employers are likely to embrace hybrid work arrangements (which has proven effective) even after COVID-19 restrictions ease,” said Knight Frank.
In terms of locational features, 64% of Singaporean respondents prefer homes with good air quality, 63% want to be near green space and 62% prefer to have access to good healthcare.
Looking for a property in Singapore? Visit PropertyGuru’s Listings, Project Reviews and Guides.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
