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

SINGAPORE – Commodities gross sales supervisor Ong Aik Poh was intended to move into his new flat in Tampines in the 1st quarter of 2023, but the flat’s renovation will be done only at the end of the 12 months owing to manpower lack.

As a result, Mr Ong, 40, who has marketed his latest flat, is storing its contents with storage provider company Lock+Retail outlet.

He will be shifting in with his parents-in-law whilst waiting for his new flat to be concluded.

There has been a 20 for each cent spike in enquiries for storage companies in the final three months, according to storage place supplier Do the job+Retailer.

Delays in flat renovation are a person of the explanations for this increase in demand, claimed Work+Retail store chief executive Danny Wong.

“This is even extra evident in the past number of months as house transactions have greater, and we have acquired a 50 for every cent increase in enquiries from people today who are searching to retailer their furniture owing to these kinds of delays,” he added.

Mr Ong, whose couch, writing desk, chairs and a king-sized bed, among the other products, are now with the storage service provider, explained he expects to expend at least $3,000 on storage.

“It’s pretty inevitable that you will have to retailer your things elsewhere as the method in between offering your latest house and getting the keys to your new household could be concerning 8 to 12 weeks,” claimed Mr Ong, who is married and has two small children.

“And you don’t know how extended you will need to have to locate the right buyer and make your mind up on the offering price tag.”

A housewife who desires to be recognized as only Ms Kathleen also turned to storage solutions in December 2022 amid her irritation above renovation delays.

Ms Kathleen, 42, and her spouse had bought a landed assets and its renovation was meant to be accomplished in November 2022.

The couple and their 5-calendar year-old son experienced been being in a rental device while waiting around for their new home to be prepared.

“However, immediately after regular delays from our contractor, our new position is nevertheless not finish and our rental unit’s lease was up. So we experienced to go out and shop our furniture with a storage supplier,” reported Ms Kathleen.

Her furniture and other huge merchandise these kinds of as a refrigerator and washing device are now held with Lock+Retail store, and the family is now being at a relative’s put.

She included: “As my contractor has not provided an estimate of how prolonged the renovation delay will be, I really do not know how very long I will have to retail store my home furnishings for.”

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