What do buyers want in their dream home?
The upcoming Springleaf Residence is a two-minute sheltered walk from Springleaf MRT Station, and borders Springleaf Forest and the Central Catchment Nature Reserve.
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The factors that constitute a dream home have evolved over the years. GuocoLand and EdgeProp Singapore conducted an online survey in July 2024 to identify the key factors that will turn a condo unit into a dream home.
Demographics of respondents
Our online survey attracted a total of 2,426 participants. Further analysis revealed that 44.9% of the respondents live in HDB flats, while 41.7% live in condos. The remainder reside in landed residential properties.
Respondents aged 46 to 64 years made up 42.4% of the sample, followed by those aged 36 to 45 years (26.7%) and those aged 26 to 35 years (15.8%). Additionally, 70% were married, and 46.2% indicated that they have one or two children (see Chart 1).
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Preferred location and budget
The majority of the respondents (44.5%) indicated the Outside Central Region (OCR) as their preferred location if they were to purchase a condo unit, followed by the Rest of Central Region (RCR) (36.5%) and the Core Central Region (CCR) (19%).
The preference for the OCR is understandable, given that 43% of respondents indicated a budget of $1 million to $1.5 million, while 39.4% had a budget of $1.5 million to $2.3 million (see Chart 2). This suggests that condo units priced between $1 million and $2.3 million hit the sweet spot for the majority of homebuyers.
At the time of the survey, 901 respondents (45.7%) indicated that they planned to purchase a condo unit within the next 12 months. Of these, 495 stated that the unit would be for their own stay, while the remaining 406 indicated that it would be an investment property.
50m lap pool and jogging track are important facilities
Swimming pools are the most commonly found facilities in condos, with some larger developments even offering several pools to cater to different users or water activities.
Among the various types of pools commonly found in condominiums, the 50m lap pool appears to be the most popular, with 63% of respondents indicating that they consider it important or very important (see Chart 3). Heated pools, on the other hand, were the least popular, with only 23% of respondents rating them as important or very important, which is understandable given Singapore’s hot weather.
Jacuzzis or hot tubs and children’s splash pools tied for second place, with 37% of respondents ranking each as important or very important. However, it is notable that jacuzzis and hot tubs (40%) edged out children’s splash pools (37%) among investors, while more owner-occupiers deemed children’s splash pools (39%) important or very important compared to jacuzzis and hot tubs (33%).
Similarly, respondents from the CCR and RCR were more likely to consider jacuzzis and hot tubs to be important or very important compared to those from the OCR.
The 50m lap pool also scored highly among respondents regardless of their marital status and number of children they have (see Chart 3). Unsurprisingly, more married respondents with children considered children’s splash pools important or very important, while singles, divorcees, or married respondents without children showed a stronger preference for jacuzzis or hot tubs.
In addition to pools, many condos also feature sports facilities. 53% of respondents deemed jogging tracks and multi-purpose sports halls important or very important (see Chart 4). The popularity of jogging tracks could be attributed to jogging being a widely enjoyed activity among Singaporeans and one that can be enjoyed by the entire family. Unsurprisingly, jogging tracks attracted more votes from respondents with children compared to those who were single, divorced, or married without children.
Tennis courts, badminton courts, and outdoor gyms were rated important or very important by 38% to 41% of respondents, while basketball courts and table tennis halls received votes from 26% and 24% of respondents, respectively. Golf simulators were the least popular, with only 13% of respondents considering them important or very important.
Developers may wish to take this ranking of sports facilities into consideration when deciding which facilities to include in their future condo developments.
Among the sports facilities not mentioned in Chart 4, the indoor gym was the most desired, with over 100 respondents indicating they would like it in their dream home. This is significantly more than squash courts, bowling alleys, and pickleball courts, which each gathered approximately 30 votes. The futsal field ranked last, with only 26 votes.
As for functional spaces, the study area/mini library proved to be the most popular, with 1,261 respondents selecting it as a facility they would like to have. This was followed closely by the business centre/working corner, chosen by 1,095 respondents (see Chart 5). The popularity of these spaces could be attributed to their ability to provide a quiet working environment for residents who work from home.
Green reigns supreme
Given its benefits to health and mental wellness, more people are recognising the importance of greenery. 72% of respondents indicated that they would use a community garden if one were available in their condominium.
Additionally, 65% deemed living near a forest or park important or very important. The top three reasons cited were improved air quality, scenic beauty, and privacy and serenity (see Chart 6), which supports the significance of greenery for mental health.
Although economic value was the least mentioned reason for living near a forest or park, 76% of respondents were willing to pay more to live near one (see Chart 7). In fact, 69% indicated they were willing to pay up to 10% more, while another 7% were willing to pay even more.
Among those willing to pay a premium of more than 10%, the highest percentage were married respondents with more than two children, followed by those married with one or two children. Parents may find proximity to a forest attractive because it can improve their family’s living environment and provide healthy recreational space for the entire family.
Affordable and energy-efficient appliances preferred
When choosing kitchen appliances, 59% of respondents would favour functionality over branding. At the same time, affordability was ranked as the most important consideration when purchasing an appliance, followed by better features, design/aesthetics and prestigious brand. For dishwashers, respondents preferred energy and water efficiency over the number of items the dishwasher can wash per load.
Multifunctional cooking appliances also found favour, with 83% of respondents considering them useful or very useful, followed by multifunctional faucets (72%) (see Chart 8).
Overall, smart fridges ranked third, with 68% of respondents finding them useful or very useful. Smart fridges attracted votes from at least 60% of respondents across all demographics, except among those who are married without children (55%). However, smart fridges were most favoured by married respondents with more than two children (69%). This may be because such families cook more frequently at home and thus appreciate a smart fridge to help keep track of items in the fridge, hence making grocery shopping easier.
An electric laundry drying system (67%) is the optional appliance that the most respondents consider important or very important for developers to provide in their condo developments, while wine coolers (16%) bring up the rear (see Chart 9).
Given the smaller size of new condo units and the lack of space to air-dry laundry, the need for electric laundry drying systems is apparent. Additionally, many households in Singapore are reluctant to use dryers frequently because it will increase their utility bills.
As for toilet appliances, both bidet taps and rain showerheads appeal to 70% of respondents. Bathtubs are the least popular, with only 23% of respondents deeming them important or very important (see Chart 10). Interestingly, bathtubs attracted fewer than 30% of votes across different demographics, except among respondents who are single or divorced, where it was 30%.
Additionally, 72% of respondents prefer single sinks for their bathrooms, while 67% prefer double sinks for their kitchens.
An overwhelming 98% of respondents indicated that it is important for appliances to be energy efficient, while only 79% deemed it important for appliances to be equipped with smart-home technology (see Chart 11).
Among appliances with smart-home technology, smart locks, smart doorbells, and robot vacuums topped the list of appliances that respondents consider useful.
Balconies, decks and patios are important
Given a choice between dedicated rooms and an open-plan layout, 54% of respondents would choose a layout featuring dedicated rooms (see Chart 12).
This preference holds true across different demographics, with the exception of married respondents with more than two children, who were evenly split between the two layouts. The flexibility to design their home’s layout to better suit the needs of a larger household could have influenced some of these respondents.
According to 73% of respondents, balconies, decks, or patios are important or very important features in a condo unit (see Chart 13). Such features are especially important to single or divorced respondents but less so for married respondents with more than two children. This could be because larger households are likely to prefer more indoor space to accommodate their family.
The respondents also deemed storage spaces for their luggage and wardrobes for their extra clothes and shoes to be more important than storage spaces for cookware, cleaning supplies, and foldable furniture.
At the same time, 64% of respondents prefer built-in furniture such as wardrobes or bookcases. More married respondents with at least one child seem to prefer built-in furniture compared to those who are not married or are married without children (see Chart 14). This preference among those with children might be because built-in furniture saves them money and time by eliminating the need to shop for furniture.
Larger households also place more importance on having a helper’s room, with 69% of married respondents with two or more children and 59% of married respondents with one or two children indicating that it is important to have such a room. This could be because such households are more likely to employ a helper compared to smaller households.
Key findings
OCR is the preferred location for respondents when purchasing a condo. This could be because OCR condos tend to be less costly than those in the CCR and RCR; given that the majority of respondents indicated a housing budget between $1 million and $2.3 million.
Among the facilities commonly found in condos, 50m lap pools appeal to the greatest number of respondents, while golf simulators seem to have fallen out of favour. Children’s splash pools are also important to respondents with children. Other popular common facilities include jogging tracks, multi-purpose sports halls, mini libraries, and business centres.
Affordability, functionality, and energy efficiency seem to be the key features for appliances that appeal to respondents. Appliances that find favour with them include multifunctional cooking appliances and electric laundry drying systems.
Respondents prefer dedicated rooms over open-plan layouts. Additionally, respondents who are single, divorced, or married without children deem balconies, decks, and patios important. However, all respondents agree on the importance of living near a forest due to improved air quality and scenic beauty. Furthermore, 76% are willing to pay more for a home near green spaces.
Homebuyers seeking their dream home in a green oasis might want to consider the soon-to-be-launched Springleaf Residence, located near the Central Catchment Nature Reserve. Additionally, GuocoLand has thoughtfully incorporated facilities deemed important by the survey respondents, such as a jogging track, 50m lap pool and community gardens, into the upcoming condo. As Springleaf Residence is just a two-minute sheltered walk from Springleaf MRT Station, future residents can also be assured of excellent connectivity to the rest of the island via the Thomson–East Coast Line.
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