{"id":121934,"date":"2021-09-10T03:15:47","date_gmt":"2021-09-09T20:15:47","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/almost-50-of-residents-at-singapores-downtown-are-in-their-20s-30s\/"},"modified":"2021-09-10T12:16:32","modified_gmt":"2021-09-10T05:16:32","slug":"almost-50-of-residents-at-singapores-downtown-are-in-their-20s-30s","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/almost-50-of-residents-at-singapores-downtown-are-in-their-20s-30s\/","title":{"rendered":"Almost 50% of residents at Singapore\u2019s Downtown are in their 20s, 30s"},"content":{"rendered":"


\nSingles comprise 40% of Downtown Core residents, with small families also being a common\u00a0demographic.
\nAlmost half of Singapore\u2019s Downtown area residents are in their 20s and 30s, compared to around 25% of the residents within traditional prime areas, revealed Edmund Tie.
\nSmall families and singles are also common, with the latter group accounting for 40% of the Downtown Core planning area residents.
\n\u201cA lack of primary and secondary schools in the local area is a possible explanation on why there is a low proportion of families as compared to the traditional prime districts,\u201d said Lam Chern Woon, Head of Research and Consulting at Edmund Tie.
\nAvailable ownership data also indicates a higher proportion of Housing and Development Board (HDB) upgraders and foreigners acquiring properties within the Downtown area compared to traditional prime areas.
\n\u201cOne factor attracting HDB upgraders could be that the units in downtown are more affordable due to the smaller sizes,\u201d said Edmund Tie.
\nLam noted that the easy access to various F&B, lifestyle, cultural and recreational within the Downtown translates into relatively smaller units as homeowners would typically spend less time in their homes.
\nMeanwhile, Edmund Tie attributed the higher share of foreigner acquisitions, particularly in 2018 to 2020, to their familiarity with iconic attractions such as Marina Bay Sands, Singapore Flyer and the neighbouring locality.
\nAnd while most of the property acquisitions may be for investments, Lam observed a growing trend of owners acquiring properties in the Downtown area for their personal stay.
\n\u201cThey could be young professionals looking for a home offering easy access to their workplaces in town,\u201d said Edmund Tie.
\n\u201cRetirees looking to downsize from their current larger units could form another potential buyer group, in particular for developments that provide easy access to healthcare services and other amenities.\u201d
\nKey foreign buyers in Singapore\u2019s Downtown are the Americans and Chinese, it added. Buyers from Indonesia and Malaysia were also active.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Almost 50% of residents at Singapore\u2019s Downtown are in their 20s, 30s<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singles comprise 40% of Downtown Core residents, with small families also being a common\u00a0demographic. Almost...<\/p>\n","protected":false},"author":1,"featured_media":121935,"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-121934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/dowtown-core-area-singapore.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vIG","jetpack-related-posts":[{"id":118581,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-property-transactions-to-gradually-improve-this-year-edmund-tie\/","url_meta":{"origin":121934,"position":0},"title":"Residential property transactions to gradually improve this year, Edmund Tie","date":"September 8, 2020","format":false,"excerpt":"\r This comes as the progressive reopening of Singapore\u2019s economy from early June saw an uptick in residential transaction volumes. The healthy take-up of recent projects since the reopening of Singapore\u2019s economy should provide developers with some degree of optimism.\u00a0 \u201cWith an estimated 20 projects expected to be launched over\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/09\/non-landed-ppi-y-o-y-q2-2020-edmund-tie.png?fit=650%2C468&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":121647,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-market-to-remain-on-sound-footing\/","url_meta":{"origin":121934,"position":1},"title":"Singapore private home market to remain on sound footing","date":"August 25, 2021","format":false,"excerpt":"\r 8,449\u00a0units in the primary and secondary private home market were transacted in Q2 2021, a 4.3% quarter-on-quarter increase. 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