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Buyers Seek Bigger, More Functional Homes After MCO

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Written by: Guo Zhenhao

Desiring to live closer to work used to be a given. Who wouldn’t love shorter commute hours and more downtime?

Gardening Spaces Now a Sought-After Feature

A UK survey revealed that 63% of potential home-movers want access to gardening spaces within their homes. When viewing new property, buyers used to look at kitchen photographs to judge if they wish to buy homes. But recently, property agents have been receiving more requests to view pictures of gardens and outdoor spaces.

Buyers Demand More Functional Space In and Out of the Home

The 43% of prospective buyers wish to live in bigger property, and 36% of respondents cited better working space as a major criteria in their home hunt.

Other space related issues included living closer to parks and green spaces (31%), and living in pet-friendly homes (22%). Surprisingly, only 8% of home-movers wish to live closer to work. Proximity to work has been replaced by other coveted features, such as a good internet and a spare room.

A New Norm That Will Influence Property Price Bargaining

An implication that may arise is that sellers living closer to transportation might fetch less of a premium compared to before, while space and home functionality are set to become major bargaining chips in the property market for years to come.

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