DEMAND ASPECTS OF SMALL APARTMENTS IN CONDOMINIUMS AT THE EAST COAST AREA

Abstract

Over the recent years condominium living has gained popularity in Singapore. Today, however in the current slump in the private residential property market, condominiums are the worst hit. Their prices have fallen drastically due to excessive supply. The keen fcompetition of a typical buyers' market today makes it all the more necessary for developers to look into new pastures within the condominium sub-market. Providing small apartments in condominium developments, over the recent past (since the recession), has been said to be a successful measure by some developers and agents to maintain profitability in their undertakings. The PMCC had also recognized this submarket of small apartments which it found to be well received. Being a relatively new area in the private residential market, there has been no extensive study regarding the demand for these units. Understanding demand is one of the crucial areas in market analysis which is vital to the success of any development project. Hence in this dissertation the writer attempts to study the demand aspects of small apartments in condominiums at the East Coast area.