A survey from the Department of Statistics revealed that more Singaporeans are choosing to live in condominiums.
The lure of the lush life of private condominiums seems to be a big draw for Singaporeans as more households now choose to live in condominiums as compared to five years ago. In another sign of a rising standard of living, home ownership numbers have also climbed up.
The proportion of resident households living in condominiums and other apartments rose to 13.9 per cent last year, up from 11.5 per cent in 2010, according to a Channel NewsAsia report.
More families also seem to prefer larger apartments. Four-room flats remained the most common house type, with 32 per cent of households living in them. The next most common was five-room and executive flats, with 24.1 per cent, followed by three-room flats with 18.2 per cent.
The survey also found that most households owned the houses they lived in. Home ownership among resident households rose to 90.8 per cent in 2015, up from 87.2 per cent in 2010.
Read Channel NewsAsia for more information.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
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