DEMAND TRENDS IN THE PRIVATE RESIDENTIAL MARKET 1987-2000

Abstract

The past two decades has seen a transformation of the private residential market. Such a transformation changed the market from one that was predominated with lowrise landed developments, to one that is characterised by highrise, high-density apartment and condominium developments. Such a transformation, in the context of the past two decades was attributable to an emerging moderately affluent and young middle income group. The next two decades will see a more affluent and middleaged middle and higher income group. In this context, the respond of the private residential market would be expected to change. Inferring from the present purchasing trends and preferences, the next two decades will see a demand for landed properties in the future. In the framework of a limited supply of residential land in Singapore, a likely respond for the market would be towards a segmented form of the condominum developments in Singapore. Such a form of development would incorporate the attributes of landed properties as well as a more intensified form of development.