(The Condominium market is an area seemingly unaffected economic matters)
In the past, if a condo had a pool, tennis court and gym, they were seen as pretty fancy. Nowadays you can also luxuriate in a spa, sip a well-deserved drink at a sports bar (after clambering over your property’s rockclimbing wall) and even chirp happily in a bird-watching tower. In the property market, it seems the stakes have been raised in a bid to wow tenants.
Many new properties are aiming to be the first, biggest or best of their kind in Singapore. Take Soleil@Sinaran, a new 417-unit condo situated in Novena. The first property on the island to team up with the local chain Aramsa Spa, its tenants will be able to bask in post-work bliss either on one of its six massage beds or in the hot tub by the pool, amongst other things. This is on top of the ‘run-of-the-mill’ condo features including a pool, barbeque pit, gym and tennis courts. Finally, there are not one but two residents-only sports bars, where people can watch a football match and enjoy the view from 20 stories up.
Other premises are aiming at specific audiences. You can guess, for example, what Tree House, a condominium on Dairy Farm Road, has up its sleeve. City Developments is currently constructing three tree houses on the grounds. Speaking to the Straits Times, Anthony Chia, director of City Developments, says the creative features “offer a different experience of play for the young and young at heart.”
‘A different experience’ is an excellent summation of what developers are trying to offer prospective buyers. Whether it’s a two-lane bowling alley (as in Palm Gardens in Choa Chu Kang) or offering wine locker rentals to wine-lovers (a feature at The Orchard Residences), condos are getting creative in how they draw in customers. By pushing certain facets they are creating their own bespoke lifestyle atmosphere. As Eric Cheng, chief executive of ECG Property puts it, “Telling potential buyers their units can have a pool view no longer cuts it, as condos now all have pools.”
Some developments are more upmarket than others. Don’t have the space to cater to your party guests? Those who live at Nassim Park Residences can make use of the property’s luxury 14-seater dining room. Between the plush lounge and pool view, guests can enjoy an almost hotel-like ambiance. There is also a well-equipped kitchen in which residents can cook or hire a private chef. Thick carpets and tasteful wooden panels complete the sense of restrained opulence of the room, which one resident said “is decorated like a hotel private lounge.”
Anthony Wong, who is the deputy general manager for marketing of UOL Group, who developed Nassim Park Residences, explains that in planning the dining room they were conscious of the lifestyle of homebuyers. “We envisage frequent socialising and dinner parties. Therefore, we provided a well-furnished dining room, lounge and kitchen where owners can invite their friends over and have a chef whip up a good meal.” Practicality plays a part too, he adds, as they then don’t have to have the mess in their own living space.
While this new trend of upmarket features obviously translates to higher maintenance fees, it seems that many homebuyers are undeterred. In a market where it’s now possible to blend the experiences of a gym, spa, playground and restaurant, those who can afford it prefer to craft their perfect lifestyle space.