DOES SIZE MATTER? SINGAPORE CONDOMINIUM PREFERENCES IN MASS CONSUMER MARKET

Abstract

This research seeks to understand, from the perspective of the local mass condominium market, the definition of a ‘large’ and ‘small’ development, as well as identifying the various condominium attributes synonymous with such developments. The scope of the study consists of a survey of potential HDB up-graders, current condominium and landed property owners located across Singapore. The data is then analyzed via One-Way ANOVA and Factor Analysis approach, where the respondents’ perceptions are ranked and regrouped accordingly as per local context.

Our study reveals that majority of the local mass condominium market regards 425 units (within a development) as the minimum benchmark for a ‘large’ private condominium. Next, tangible attributes such as ‘Security’, ‘Pricing’ and ‘Facilities’ ranked accordingly as the top concerns for this market during their purchase decision. Finally, potential buyers of ‘large’ condominiums would associate such developments with a greater variety of facilities, a larger neighborhood, coupled with strong community interaction opportunities, while potential purchasers of ‘small’ condominiums will expect a unique architectural design, a quiet and safe environment with heightened security.

The contribution of this research is two-fold: (a) it provides a platform for a more detailed analysis into the behavior of the local mass condominium market through identifying critical purchase decisions and (b) aid developers in their future planning and marketing strategy of local private condominium developments.