Developing multigenerational homes in Malaysia, plus additional news

For PropertyGuru’s news roundup, developers have started designing multigenerational homes for Malaysian families. In other news, PropertyGuru presents the Singapore Consumer Sentiment Study for the second half of 2024. Lastly, progress has been made towards creating more inclusive living environments in Thailand.

Multigenerational homes: Features, pros and cons, and 8 new launches in Malaysia

In Asian communities where filial piety is almost customary, it is very common for parents to live with their children even after the children have gotten married and started their own families. Multigenerational living has benefits – elderly parents are taken care of while they, in turn, can become caregivers for their grandchildren.

Besides the familial support system, multigenerational living also makes financial sense. Buying your first home comes with a heavy financial commitment, and choosing to live with your parents can help you save money. Sharing expenses can reduce the cost of living, and with grandparents taking care of their grandchildren, parents can save on childcare expenses.

Multigenerational living also has disadvantages, with so many people living under the same roof. Privacy and comfort are the main concerns. It is important to choose the right home so that people are not breathing down each other’s necks, which will hopefully reduce family drama.

So, what makes a multigenerational home? Technically, any house that can fit the number of people in the family (comfortably) qualifies as one, according to PropertyGuru Malaysia.

In recent years, developers have started designing multigenerational homes specifically so that they are fit for that purpose.

Singapore Consumer Sentiment Study H2 2024

The PropertyGuru Singapore Consumer Sentiment Study (CSS) H2 2024 revealed that the overall Sentiment Index – which measures current real estate satisfaction and overall climate, housing affordability, interest rates, perceived government efforts, and property prices in Singapore – has remained stable at 43 points, a slight decrease from the last wave in the H1 2024 report at 44 points.

Strong property demand persists despite ongoing challenges faced by property seekers, such as high property prices, rising interest rates and increasing renovation costs. The Property Affordability Rating shows a downward trend, from 46 points in H1 2024 to 40 points in H2 2024.

The rise of accessible living: Inclusive design is now a must-have in Thailand’s residential developments

In Thailand, progress has been made towards creating more inclusive living environments. According to DDproperty by Property Guru, the Persons with Disabilities Empowerment Act of 2007 mandates home modifications for persons with disabilities, supporting the initiative for inclusive home designs. However, stronger enforcement of this policy is still sorely required.

But the goal is clear: every individual, regardless of age, ability, or physical condition, should be able to live comfortably in their home. Fortunately, many Thai developers are embracing inclusive design principles, with several award-winning developments leading the way.

The Property Report editors wrote this article. For more information, email: [email protected].