SMART HOME FEATURES IN PRIVATE RESIDENTIAL HOMES: AN ACTUAL DEMAND OR JUST A MARKETING GIMMICK?

Abstract

As Singapore works towards its goal of becoming the first Smart Nation in the world, an increasing number of Smart Home projects are being developed. These projects contain technology within a unit that often helps to ease the daily routine of residents. However, is the increasing number of such projects based on an actual demand, or is this just a marketing gimmick?

This dissertation seeks to answer this question through the analysis of literature, surveys with homebuyers and interviews with developers. With the purpose of reflecting both sides of the Smart Home market, the surveys will examine the demand whereas the interviews will analyse the supply.

The surveys aim to investigate the level of awareness, acceptance and willingness of homebuyers towards the idea of Smart Homes. After conducting data analysis, it is found that 83% of the respondents are willing to stay in a Smart Home, implying that there is an actual demand. However, the analysis also revealed that certain demographic will affect the extent of awareness, acceptance and willingness towards Smart Homes. In addition, the most preferred features involve better energy efficiency, followed by having a healthcare system. With this data, it is concluded that different groups of respondents have varying opinions, which is something that developers should take note of in order to be able to cater to a wider group of buyers.

As for the interviews, they seek to find out the developers’ motivations and thought process behind the planning and execution of these Smart Home projects.

With information from both sides of the market, this dissertation serves as a bridge for both the homebuyers and developers to ensure that there is an equilibrium in the market as much as possible.