Just how much smaller are new condos and HDB flats sizes getting? 🏠 READ:
Over the years, Singaporeans have been getting the feeling that condo units and HDB flat sizes are shrinking. Living rooms don’t seem as spacious as they used to be, and bedrooms nowadays seem to be able to hold little more than a single bed.
The government says no. In 2012, then-National Development Minister Khaw Boon Wan claimed that HDB flats had remained the same size for the past 15 years. While that is technically true, things are a little more complicated., the average size of each flat type has stayed more or less the same over the years. For instance, 4-room HDB flat sizes have stayed fairly consistent at about 80 to 100 sqm, with just a slight dip over the past two decades.
However, what has changed most is the mix of flat types on the market. 4-room HDB flats used to be the smallest flat type in the past. Today, 4-room HDB flats are the average flat type, with smaller flats such as 2-room Flexi and 3-room flats skewing the average size downwards.This is a logical result of smaller household sizes, with families having fewer kids and more single or childless households.
“The average size of active listings on the PropertyGuru website for 3-bedders started decreasing in 2010. Meawhile, the size of 4-bedders has been declining steadily since 2013.” Smaller condominium units also cater to the investor group: smaller units also enjoy much stronger demand on the rental market than they did two decades ago due to the high number of foreigners working in Singapore. Such units are also more profitable for developers as they command a higher psf price.
The demand for bigger houses surged and remains strong. The record number of million-dollar HDB flats transacted in 2022 and buoyant HDB resale flat prices is a testament to this. Buyers are willing to pay premiums for larger flat types, even if they are not centrally located.
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