Storage space demand spikes amid home renovation delays, rise in overseas travel and consumer spending


SINGAPORE – Commodities sales supervisor Ong Aik Poh was intended […]

SINGAPORE – Commodities sales supervisor Ong Aik Poh was intended to go into his new flat in Tampines in the initial quarter of 2023, but the flat’s renovation will be concluded only at the conclusion of the year due to manpower shortage.

As a final result, Mr Ong, 40, who has bought his present flat, is storing its contents with storage services service provider Lock+Retail store.

He will be going in with his mother and father-in-regulation whilst ready for his new flat to be concluded.

There has been a 20 per cent spike in enquiries for storage products and services in the past a few months, according to storage room supplier Operate+Retailer.

Delays in flat renovation are just one of the reasons for this rise in demand, reported Work+Retail store chief govt Danny Wong.

“This is even additional evident in the previous several months as house transactions have amplified, and we have gained a 50 for each cent increase in enquiries from people today who are looking to shop their home furnishings thanks to this sort of delays,” he added.

Mr Ong, whose couch, crafting desk, chairs and a king-sized bed, among other merchandise, are now with the storage company, said he expects to devote at the very least $3,000 on storage.

“It’s fairly unavoidable that you will have to keep your merchandise in other places as the method among advertising your recent home and obtaining the keys to your new household could be concerning 8 to 12 months,” explained Mr Ong, who is married and has two youngsters.

“And you never know how long you are going to need to find the ideal customer and decide on the selling rate.”

A housewife who desires to be recognized as only Ms Kathleen also turned to storage expert services in December 2022 amid her annoyance about renovation delays.

Ms Kathleen, 42, and her husband experienced acquired a landed assets and its renovation was intended to be done in November 2022.

The pair and their five-12 months-old son had been keeping in a rental unit though ready for their new dwelling to be completely ready.

“However, just after regular delays from our contractor, our new spot is nevertheless not entire and our rental unit’s lease was up. So we had to transfer out and keep our household furniture with a storage provider,” said Ms Kathleen.

Her furnishings and other big products this sort of as a fridge and washing device are now retained with Lock+Retail outlet, and the spouse and children is now remaining at a relative’s location.

She added: “As my contractor has not offered an estimate of how prolonged the renovation delay will be, I really do not know how lengthy I will have to retail store my furniture for.”

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