The future of Singapore homes could be dominated by average home sizes. These types of sized Singapore homes will likely be able to accommodate more than one family, while saving on space. Many Singaporeans will still own larger sized properties but their dreams of owning a Singaporean home will have to change.
The first big shift is that when it comes to housing, Singaporeans will continue to be limited to the average of the bigger homes. Currently, this makes for the average home sizes of 920 square feet or less. However, when you begin to factor in the potential for much larger homes in the future, the number goes up. That’s why many are expecting Singaporean home sizes to grow in the years to come.
Aside from the minimum property sizes, we can expect Singaporean home sizes to be higher as well. As the government plans for more Singaporean residents, they will need larger Singaporean homes. The housing supply, especially in urban areas, will need to be expanding, even if we are not facing a shortage.
It’s important to understand how home sizes work, especially since this can provide a background of how regular residential home sizes should look like. While a single Singaporean home may never exceed 900 square feet, most Singaporean homeowners own two or more Singaporean homes. This means they will need to consider how their new Singaporean home will fit into the overall set of Singaporean home sizes.
Home sizes to consider
When looking at the future, we can expect that Singaporean home sizes will continue to increase. It’s important to note that when this happens, the number of Singaporean home sizes will also increase. The basic rule is that the more Singaporean homes we have, the larger the Singaporean home sizes will be. Therefore, many Singaporeans will have Singaporean home sizes exceeding 1000 square feet.
Another thing to consider when looking at Singaporean home sizes is that home sizes will still be important for Singaporeans to purchase. If prices are increasing and more Singaporeans are having trouble purchasing a home, some Singaporeans will take matters into their own hands. They will sell the older Singaporean homes that they already own. But, the homes they sell will usually be slightly smaller than the ones they have.
Singaporean home sizes could end up changing in 2020. But it isn’t likely that they will be going up by the large amount many people are thinking. Instead, it will likely just become more flexible. There won’t be the demand for as many Singaporean home sizes because there will be more Singaporeans living here.
As a result, small houses could be purchased that will allow Singaporeans to buy smaller Singaporean home sizes. So even though we will continue to have average home sizes, they will be much smaller. The Singaporean home sizes that are available right now will continue to grow over the next few years.