{"id":120388,"date":"2021-02-15T01:19:22","date_gmt":"2021-02-14T18:19:22","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/shrinking-sizes-of-new-condos\/"},"modified":"2021-02-15T09:32:15","modified_gmt":"2021-02-15T02:32:15","slug":"shrinking-sizes-of-new-condos","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shrinking-sizes-of-new-condos\/","title":{"rendered":"Shrinking sizes of new condos"},"content":{"rendered":"


\nShrinking sizes of new condosThe impact of the government\u2019s move in 2018 to reverse the trend of developers constructing more shoebox units is starting to be seen. One such example is Hong Leong Group who commissioned bigger units in their projects such as Penrose.\u00a0
\nNew condominiums in Singapore saw their median sizes shrink in the last ten years, with those in the suburbs falling to 71 sq m in 2020 from 116 sq m in 2007, reported The Straits Times (ST).
\nResale units also shrank to 106 sq m last year from 118 sq m in 2007.
\nThe drop in sizes was more evident in other areas. New condos within the prime districts dropped to just 62 sq m in 2020 from 119 sq m in 2009, while those in the city fringe fell to 69 sq m from 100 sq m.
\n\u201cNew homes are smaller now but they have more facilities and smart features, and the layout is more efficient. Family sizes are also smaller now, so why not?\u201d said Tricia Song, Head of Research (Singapore) at Colliers International as quoted by ST.
\nRecommended article:\u00a0Condo Study Room vs Bedroom: Are They Different or is it Just Marketing?
\n\u201cThere\u2019s a more efficient layout as bomb shelters are no longer required within a unit, and there are fewer planters and bay windows. There is also less storage needed due to tech advances.\u201d
\nST, however, noted that the impact of the government\u2019s move in 2018 to reverse the trend of developers constructing more shoebox units is starting to be seen.
\nHong Leong Group, for instance, has made provisions for bigger units as per guidelines in its 566-unit joint venture project Penrose as well as its other joint venture project One-North Eden, which is set for launch in the first half of 2021, shared a spokesman.
\n\u201cThese provisions are balanced and in proportion to the project size. At the same time, small units remain in demand, given their overall price quantum and investment value. There are buyers who still prefer smaller units to accommodate smaller families or for rental yield,\u201d said Hong Leong as quoted by ST.
\nSuggested read:\u00a0Exceeding the BTO Income Ceiling: Should You Buy A Big Resale Flat or Small Condo?
\nUrban Redevelopment Authority new rules which took effect in January 2019 slashed the maximum number of units allowed within new private flats and condo developments outside the central area in an effort to manage potential strains on infrastructure.
\nFor those outside the central area, the minimum average unit size for units went up to at least 85 sq m from 70 sq m. The new guidelines covered new development applications for projects that were submitted on or after 17 January 2019.
\nSong said the guidelines\u2019 impact was not felt in 2019 since many projects, especially those acquired through en block sale in 2017 and 2018, had secured planning approval prior to the effectivity of the rules.
\n\u201cBut there was a slight uptick in median unit sizes in 2020 for new condos in the suburbs and city fringe area,\u201d she added.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Shrinking sizes of new condos<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shrinking sizes of new condosThe impact of the government\u2019s move in 2018 to reverse the...<\/p>\n","protected":false},"author":1,"featured_media":120389,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-120388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/02\/Penrose-facade-crop.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vjK","jetpack-related-posts":[{"id":111568,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shrinking-household-size-requires-300000-homes-to-be-built-in-10-years\/","url_meta":{"origin":120388,"position":0},"title":"Shrinking household size requires 300,000 homes to be built in 10 years","date":"October 14, 2019","format":false,"excerpt":"\r This comes as the average household size fell to 3.2 from 3.5 in 2018, resulting in the average sizes of new private houses going down to 70 sq m (753 sq ft) from 111 sq m (1194 sq ft) in 2018. Singapore must build at least 25,000 housing units\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100096,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-limits-number-of-private-condos-outside-central-region\/","url_meta":{"origin":120388,"position":1},"title":"URA limits number of private condos outside central region","date":"October 18, 2018","format":false,"excerpt":"\r The move aims to safeguard the liveability of housing estates in Singapore by reducing the sizes of private condos. The Urban Redevelopment Authority (URA) changed the formula for determining the maximum number of units that developers can build in new non-landed residential projects outside Singapore\u2019s central region on Wednesday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101456,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-new-ura-rules-dont-impose-a-minimum-size\/","url_meta":{"origin":120388,"position":2},"title":"Govt: New URA rules don\u2019t impose a minimum size","date":"November 20, 2018","format":false,"excerpt":"\r The new URA guidelines do not stipulate a minimum built-up area for private properties and instead imposes higher average sizes. National Development Minister Lawrence Wong explained that new rules announced by the Urban Redevelopment Authority (URA) last month doesn\u2019t set a minimum size for private condos outside Singapore\u2019s central\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87014,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-to-adjust-guidelines-if-developers-build-too-many-shoebox-units\/","url_meta":{"origin":120388,"position":3},"title":"URA to adjust guidelines if developers build too many shoebox units","date":"May 3, 2018","format":false,"excerpt":"\r Developers are allowed to build condo units of different sizes, assuming an average size of 753 sq ft. The Urban Redevelopment Authority (URA) said on Wednesday (3 May) that it will intervene, if needed, to prevent property developers from building too many tiny apartments or shoebox units amidst the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":120388,"position":4},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100913,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/small-home-resales-hit-10-year-high-in-2017\/","url_meta":{"origin":120388,"position":5},"title":"Small home resales hit 10-year high in 2017","date":"November 5, 2018","format":false,"excerpt":"\r Sales of resale homes measuring from 500 to 800 sq ft hit a 10-year high of 1,466 units in 2017. Sales of small private condos slowly but steadily increased between 2014 and 2017, reported the Business Times, citing newly published research from OrangeTee & Tie. The study found that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/120388"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=120388"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/120388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/120389"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=120388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=120388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=120388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}