#None #MEMOCO #Used Condominiums #Timing Decisions

Research on Purchasing Used Condominiums

Introduction
A recent survey conducted by MEMOCO in collaboration with SMUNARA has provided valuable insights into the decisions individuals make when purchasing used condominiums, focusing heavily on the purchase timing.

Survey Overview

• - Subject: Questionnaire regarding the purchase of used condominiums and the timing of these purchases.
• - Duration: March 8, 2025 - August 14, 2025.
• - Method: Online survey through a crowdsourcing service.
• - Participants: 113 respondents, comprising 55 men and 58 women.

Demographic Breakdown

• - Age Distribution:

- 20s: 12%
- 30s: 30%
- 40s: 35%
- 50s: 19%
- 60s and older: 4%

Purchase Timing Analysis

• - Timeframe of Purchase:

- Over 5 years ago: 42%
- Within 2 years: 27%
- Within 3 years: 13%
- Within 1 year: 11%
- Within 4 years: 7%

From this data, it's evident that a significant portion of individuals, around 70%, have purchased their condominiums either within the last two years or over five years prior. This indicates that the decision to purchase used condominiums often involves a lengthy consideration period, while the ongoing influence of the COVID pandemic has been noted for buyers within the last two years.

Awareness of Purchase Timing

• - Consideration Level:

- Very conscious of timing: 13%
- Somewhat conscious: 20%
- Not very conscious: 36%
- Not conscious at all: 31%

Notably, about 66% of respondents indicated minimal awareness regarding the timing of their purchase, while about 33% were mindful of it.

Reasons for Minimal Timing Awareness

• - Focus on Property Quality:

"Purchasing when a good property becomes available."

Most respondents prioritizing key aspects of the property over timing suggest that encounters with quality offerings are rare, making prompt decisions vital.

• - Need Necessitated by Lifestyle Changes:

"I wanted to move quickly due to discomfort in my previous living space."

Respondents indicated that life events, such as relocation or family changes, often require swift resolutions rather than focusing on timing.

Reasons for Being Mindful of Timing

• - Interest in Interest Rates:

"I bought when mortgage rates were low."

For many buyers utilizing mortgages, fluctuations in interest rates significantly influence decisions, with many feeling a sense of relief after purchasing when rates were low.

• - Children's Education Considerations:

"We moved before the kids started school to avoid transition issues."

Families with children often base their timing on educational factors, minimizing disruptions during pivotal schooling transitions.

• - Market Price Awareness:

"I wanted to buy in a time when prices stabilize."

Conscious buyers also align their purchases with market trends, leveraging their knowledge to make advantageous buying decisions.

Analysis of Timing Trends

• - Age-Related Sensitivity:

Younger buyers in their 20s and 30s tend to focus on financial advantages in timing, while those aged 40 and upward emphasize family stability and children's education.

• - Motivation-Driven Awareness:

The study found significant differences in awareness based on purchasing motivation. Investment-focused buyers are more likely to consider market trends, whereas those motivated by personal need prioritize property specifications.

Conclusion
It was confirmed that around two-thirds of respondents do not regard purchase timing as a critical factor in their buying experience. This trend is attributable to the unique characteristics of the used condominium market, where timely opportunities are vital. Conversely, those who do prioritize timing consider factors such as interest rates, family-oriented events, and market conditions.
Therefore, potential buyers must clarify their priorities—whether to prioritize property conditions or recognize market movement—understanding both approaches can lead to a successful purchase decision.

Understanding these considerations can guide future buyers in making informed decisions when entering the used condominium market.