WHAT HOMEOWNERS WANT IN STRATA HIGH-RISE LIVING - now and in the future
As cities expand vertically, strata homes have evolved from just a basic living space to a whole ecosystem that requires both a well-planned macro structure and well-managed micro cells to meet the demand for quality living sought by homeowners today. Have these expectations been met? What are they exactly?
To gain a greater understanding of this and what Malaysians wish to experience in strata living, EdgeProp partnered with Lendlease, an international real estate group, to conduct a survey, which has unravelled new and unexpected insights.
The EdgeProp–Lendlease Sustainable Strata-living Survey lists a number of attributes for respondents to rate on a scale from 1 to, where 1 is “totally unimportant” and 5 is “very important”. Run from July 8 to Aug 5, it garnered 7,020 respondents, with 76% from the Klang Valley.
Here are some of the interesting insights we uncovered.
MAINTANABILITY
TRUMPS AESTHETICS
AND FACILITIES
More homebuyers are beginning to realise that good property management starts from the moment the development plan is conceived. A significant majority of 89% respondents in the survey prefer buildings or projects with easy-to-maintain facade, facilities and common areas - more so than aesthetics and having large number of facilities.
SAFETY AND WELLNESS
ARE OF UTMOST CONCERN
As many as 90% desire easy access, bright and airy spaces, and good air quality in their shared spaces while 88% want to see more safety-design features in high-rises. Though the examples given are not common in Malaysia - such as fire-prevention systems, fall-prevention measures at swimming pools and balconies and adequate balustrade height - homeowners are recognising these as crucial to have.
INTEGRATED
DEVELOPMENT AND
CAR-FREE LIVING
The perks of living in an integrated development with all the conveniences within hassle-free and time-saving reach appeal to many. Two thirds of people living in strata high-rises want integrated, vibrant offerings and are in favour of car-free living.
Our takeaway: people do not just move into a home, they want to join a vibrant and inclusive community, one that should stand the test of time.
WILLING TO PAY MORE
FOR BETTER PROPERTY
MANAGEMENT
Well-maintained properties will appreciate in value even as they age. And this is something that people are beginning to appreciate not just as common sense, but in dollars and cents.
64% of respondents are willing to pay up to 5% more in service charges or maintenance fees for forward-looking conveniences, sustainability-centric features and efficient and reliable property management - people are acknowledging the impact their contributions have on the quality of life and the value of their investments
THE FUTURE OF
SMART LIVING
"Smart living solutions" in the likes of connected devices, apps, face recognition hardware and touch-free technology has proved handy in enhancing security and safety, as well as improving the way we communicate.
The favourable reception towards smart technology is observed across all age groups, even those from the digital immigrant group of 50-and-above, against the general assumption of their hesitation.
The Attributes that Matter
Dive into the results here and discover what appeals the most to Malaysians when it comes to strata-living.
Importance of aesthetics in strata-living
(iconic, recognisable, differentiated)
Importance of maintainability in strata-living
(easy to maintain facade, facilities, common areas)
Importance of having a large variety of lifestyle facilities in strata-living
(aqua gym, resident’s lounge, games room, etc.)
Importance of eco-friendliness in strata-living
(rainwater harvesting, composting area, energy-saving lights, etc.)
Importance of pandemic-mitigation measures in strata-living
(touchless lift buttons, good air ventilation, etc.)
Importance of purposeful landscaping in strata-living
(gathering spaces, herb garden, urban farming)
Importance of natural sunlight and good ventilation in common areas
(easy access, bright and airy spaces, good air quality)
Importance of safety design features for overall wellness & safety
(fire-prevention systems, fall-prevention measures at swimming pools and balconies, adequate balustrade height, etc.)
Importance of integrated, vibrant and lively offerings in strata-living
((shops, restaurants and other amenities in the vicinity)
Importance of residents' engagement in strata-living
(communal activities, festive celebrations, interest groups, etc.)
Importance of having designated facilities and spaces for different age groups in strata-living
(adventure park, community garden, meditation corner, etc.)
Importance of having smart living solutions in strata-living
(connected devices, apps, face recognition, touch-free technology, etc.)
Importance of connectivity: Car-free living
(good connections to MRT/LRT lines, shuttle buses)
Importance of connectivity: Infrastructure for alternative modes of transport
(electric scooters, bicycles)
Importance of connectivity: Walkability
(pedestrian-friendly pathways to reach amenities)
Importance of holistic solutions that support property value growth
(defined spaces for deliveries, optimal building design, smooth SOPs)
Importance of having reputable professional property management company
Importance of developer's strong track record
How much more service charge would you pay for forward-looking conveniences?
(co-working facilities, online payments, app-controlled lighting and air-conditioning, etc.)
How much more service charge would you pay for sustainability-centric features?
(car-charging stations, rubbish segregation, etc.)
How much more service charge would you pay for efficient and reliable property management?
(trustworthy security guards, effective visitor management, functioning amenities, etc.)
What kind of artificial intelligence (AI) are you comfortable with in the future of property management?
Users were asked to rank in order of relevance to them (1 being most relevant)
