Property

How Much Are Singaporeans Spending on Renovating Their Homes?

renovation singapore

Peter Lin

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Last month, local company Absolook Interior Design received international attention when they released photos of their project inspired by Marvel’s The Avengers movie franchise. The renovation was done for a [email protected] 5-room HDB flat. Though the actual cost was never disclosed, it’s undoubtedly one of the more expensive interiors in a Singapore apartment, especially one in an old estate like Queenstown.

How much should you be shelling out to renovate your HDB flat or condominium unit? Well, according to Qanvast, it apparently depends on several factors, like location and theme. Qanvast is Singapore’s first mobile app that helps homeowners get quotes from over 100 interior designers and project merchants. Check out their infographic below, which has a wealth of information, including the average spending on renovation by district.

how much Singaporeans spend on renovation

Here’s a MoneySmart tip!

Banks and financial institutions do provide loans that are specifically for renovation purposes. A renovation loan usually has a significantly lower interest rate compared to personal loans, as well as lower income requirements. Remember to compare and get the best interest rates for renovation loans.

 

Do you think Singaporeans are spending too much on renovations? Share your thoughts with us.

This infographic was originally published by Qanvast at https://blog.qanvast.com/how-much-do-singaporeans-spend-on-renovation/.

Qanvast is a trusted platform that connects homeowners and home professionals. Discover over 10,000+ home inspiration ideas with renovation cost breakdown. Simplify your renovation journey by downloading the Qanvast app; iOS or Android.

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Peter Lin

I am the poster boy for reinventing one's self. I've been a broadcast journalist, technical writer, banking customer service officer and a Catholic friar. My life experiences have made me the most cynical idealist you'll ever meet, which is why I'm also the co-founder of a local pop culture website. I believe ignorance is not bliss, and that money is the root of all evil only if you allow it to be.