Fraud Blocker
Your search results

Why Aren’t Spacious, Wallet-Friendly Homes Our Reality Yet?

Posted by Jayson Ang on April 17, 2024
| 0

TLDR

The article discusses the current housing market in Singapore, focusing on the challenges faced by individuals like Sherlyn Tan and Fatin Zakiah Saiful Imran in purchasing their desired properties. It also touches on the impact of population growth on housing demand and the strategies suggested by experts to manage it. Additionally, it highlights the importance of maintaining an adequate population size for economic growth. Lastly, it provides advice on whether to buy, sell, or wait in the current real estate scenario.

Sherlyn Tan, a communications undergraduate, has twice encountered setbacks in her attempts to secure a Build-to-Order (BTO) flat. She fondly recalls the five-room Bedok flat her parents purchased in the late 1990s for S$300,000.

Fast forward to today, the cost of a similar BTO flat in the same vicinity has skyrocketed to as much as S$737,000. Growing up in Bedok, Sherlyn, now 23, confesses her concerns about affording a home near her parents due to escalating prices.

On a similar note, Fatin Zakiah Saiful Imran, aged 35, recently welcomed her third child into the world. The prospect of upsizing from their current four-room BTO to a larger dwelling is very much on the horizon for her family.

Fatin, a technical support engineer, expressed that a primary motivation behind their potential move is the quest for more space – something they see as only achievable through purchasing a resale flat. She added that the current BTO offerings are generally of a similar size, with not all projects featuring five-room flats for sale.

Interestingly, the Ministry of National Development announced in April of the previous year that the dimensions of HDB flats have remained consistent since 1997. Meanwhile, the average household sizes have seen a decline.

“Singapore’s land limitations necessitate a careful balance between the dimensions of HDB flats and their availability,” stated the ministry, addressing a legislative inquiry about the possibility of expanding the average size of HDB flats.

According to Mr. Tan Wei Ming, Director of Research and Consultancy at Savills Singapore, one approach to temper housing demand is by regulating population growth, particularly by moderating immigration influx.

Mr. Lim Jia Hao from CGS-CIMB suggested that theoretically, decreasing Singapore’s population could somewhat curb housing demand. However, if such an action were taken to an extreme, it would ultimately be harmful in the long run, considering Singapore’s rapidly ageing populace.

“The number of youths is dwindling and the population is growing older at a fast pace. The population will diminish eventually. What then becomes of your property or vehicle when there’s no one interested in buying?” He questioned.

He further emphasized that maintaining an adequate population size is crucial for Singapore to continue its economic expansion and create prosperous employment opportunities.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

  1. Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
  2. Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …


Executive Condos in Singapore: Have They Outgrown the “Sandwich Class” Label?
All Buying Tips Opinion

Executive Condos in Singapore: Have They Outgrown the “Sandwich Class” Label?

TLDR The Executive Condominium (EC) scheme, once intended as affordable “sandwich class” housing, is now acting more like a lottery...
Read More
Top 5 Trends And Developments That Will Shape Singapore’s Property Market In The Next 5 Years
Mandarin Top 5

Top 5 Trends And Developments That Will Shape Singapore’s Property Market In The Next 5 Years

TLDR Singapore’s property market is set for significant transformation over the next five years, driven by rapid proptech adoption, growing...
Read More
Top 5 Mistakes to Avoid When Buying Property in Singapore – Expert Insights!
Mandarin Top 5

Top 5 Mistakes to Avoid When Buying Property in Singapore – Expert Insights!

Purchasing a property in Singapore can be an exciting and rewarding experience, especially for those looking to invest in the...
Read More
Top 5 : Nationalities Of Prime Property Buyers in Singapore
Mandarin Top 5

Top 5 : Nationalities Of Prime Property Buyers in Singapore

Singapore, a thriving city-state known for its stable political climate, excellent infrastructure, and strong economic fundamentals, has long been an...
Read More
Top 5 Best Urban Hiking Trails in Singapore
Mandarin Top 5

Top 5 Best Urban Hiking Trails in Singapore

Singapore, known as the Garden City, is a bustling metropolis that offers a multitude of parks and nature reserves for...
Read More
5 Reasons Why Singapore Loves Investing in Properties
Mandarin Top 5

5 Reasons Why Singapore Loves Investing in Properties

Property investing is a popular and lucrative option in Singapore due to several reasons. Firstly, Singapore's stable and growing economy...
Read More
Strategies for Overcoming ABSD and Acquiring Multiple Properties in 2023 (Revised)
All Buying Tips

Strategies for Overcoming ABSD and Acquiring Multiple Properties in 2023 (Revised)

TLDR When it comes to navigating the Additional Buyers Stamp Duty (ABSD) in Singapore, there are legal strategies available to...
Read More
Singapore’s En Bloc Landscape in 2025: Four Potential Residential Sites to Monitor
All Opinion

Singapore’s En Bloc Landscape in 2025: Four Potential Residential Sites to Monitor

TLDR Developer confidence in Singapore’s property market is rising in 2025 despite global uncertainties, supported by strong sales in new...
Read More
Top 5 Reasons : How Can A Reputable Real Estate Agent Help You When Investing In Singapore Property
Mandarin Top 5

Top 5 Reasons : How Can A Reputable Real Estate Agent Help You When Investing In Singapore Property

Investing in Singapore property can be a lucrative venture, given the country's stable economy, strategic location, and high demand for...
Read More
Debunked! 6 Popular Property Myths of 2023, Including the 99-1 Loophole – Legal or Not?
All Buying Tips Opinion

Debunked! 6 Popular Property Myths of 2023, Including the 99-1 Loophole – Legal or Not?

TLDR This blog post delves into various aspects of the Singapore property market, including topics such as decoupling, 99-1 property...
Read More
Top 5 : Best Themed Cafes in Singapore
Mandarin Top 5

Top 5 : Best Themed Cafes in Singapore

Singapore, a vibrant and diverse city, is known for its eclectic mix of cultures, cuisines, and attractions. Among the many...
Read More
Top 5 : Greatest Challenges That Investors Face In Singapore’s Real Estate Market
Mandarin Top 5

Top 5 : Greatest Challenges That Investors Face In Singapore’s Real Estate Market

Singapore's real estate market is a dynamic and attractive investment landscape for both local and international investors. Known for its...
Read More
Selling your HDB Resale Flat in 2025 [Comprehensive Guide]
All Buying Tips

Selling your HDB Resale Flat in 2025 [Comprehensive Guide]

TLDR Selling your HDB resale flat involves a structured 14-step process. Start by registering your Intent to Sell on the...
Read More
Top 5 Reasons : Why is Supply so tight for Singapore Property?
Mandarin Top 5

Top 5 Reasons : Why is Supply so tight for Singapore Property?

Singapore's property market has been experiencing a tight supply in recent years, leading to increased demand and rising property prices....
Read More
Budget 2024: What To Expect For The Singapore Residential Market?
All Opinion

Budget 2024: What To Expect For The Singapore Residential Market?

TLDR In 2025, owner-occupiers of residential properties can benefit from property tax relief based on the Annual Value Band. Retirees...
Read More
2024 Residential Property Market Outlook
All Buying Tips Reports

2024 Residential Property Market Outlook

TLDR The market outlook for 2024 suggests continued uncertainties affecting housing demand and risk appetite due to geopolitical tensions, macroeconomic...
Read More
3 Exciting Residential Sites Coming Soon!
All Buying Tips

3 Exciting Residential Sites Coming Soon!

TLDR The Lion City is undergoing rejuvenation with upcoming developments in coveted areas like Clementi and sites near MRT stations....
Read More
The Future Of Singapore Property Investing: 5 Trends To Watch Out For
Mandarin Top 5

The Future Of Singapore Property Investing: 5 Trends To Watch Out For

The future of Singapore's property market is shaped by several emerging trends that reflect cautious optimism, enviable locations, and sociable...
Read More
Simplified Guide to Buying Landed Property in Singapore
All Buying Tips

Simplified Guide to Buying Landed Property in Singapore

TLDR When considering buying a landed property in Singapore, you have options like terrace homes, semi-detached houses, and bungalows. Understanding...
Read More
Your Key to a Happy Retirement in Your HDB? Let’s Unveil The Mystery Behind the Lease Buyback Scheme!
All Buying Tips

Your Key to a Happy Retirement in Your HDB? Let’s Unveil The Mystery Behind the Lease Buyback Scheme!

TLDR The Lease Buyback Scheme (LBS) is gaining traction among older Singaporeans looking to boost their retirement income by selling...
Read More
1 22 23 24 25 26 33

Compare Listings