Mori Condo, shared housing more appealing to young S'poreans, though most still want to own homes: Study
MORI - More young Singaporeans, compared with older age groups, are considering renting and flat sharing as they find current property prices too high. Even then, most still intend to buy a home within the next two years, a consumer sentiment study released by real estate portal PropertyGuru last week showed. While one in three respondents said they feel the pinch of rising rents, two in three of those aged 22 to 29 said they have chosen to rent instead of buy a home due to their lack of savings.
One-fifth of respondents in this age group felt that current property prices are too high, and about one-third expressed interest in home ownership alternatives like shared housing - such as renting a common room in an apartment or co-living spaces - due to lower rent and common facilities. The study did not release data on the sentiment towards shared housing for the other age brackets. The twice-yearly study, conducted between June and July this year, had 967 respondents.
Mr Asher Chua, 27, who rents a four-room Housing Board flat in a central location with two friends, said he chose to move out of his parents' home last year as he wanted to have his own space. "I do still feel the pinch of forking out for rent each month, but I'd say having the personal space is worth it and I don't regret it. "I want to be able to have friends over, but when you're staying with family, it can be a bit hard to do so," the sales executive said.
Meaning wood or forest in Japanese, MORI is inspired by the modern Wabi-Sabi philosophy. Wabi-Sabi is an appreciation of the elegant beauty of nature and a way of living that embraces the meaning and value of time.
Mori Condo is situated at Guillemard Road, conveniently just minutes’ walk from Mountbatten (CCL), Dakota & Aljunied MRT. Witness massive transformations within close proximity with great upside potential. It is also just a short drive to Paya Lebar Commercial Hub, Sports Hub, East Coast Park, CBD, Changi Airport & more.
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