Minority Report - housing for singles and seniors

[mcmlxxvi]

SINGAPORE : Property consultancy firm Colliers International has recommended the development of a "retirement village" for the growing population of senior citizens in Singapore.
It has also suggested that a ratio/quota system be implemented to allocate Build-to-Order (BTO) flats to singles.
Colliers said these are two groups within the larger population that have become significantly prominent over the last 12 years. And they will play an important part in the housing market going forward.
These findings and recommendations are part of a White Paper - called the Minority Report - released by Colliers on Wednesday.
In the report, Colliers pointed out that Singapore's total population has increased by 31.8 per cent to reach 5.31 million in 2012 from 4.03 million in 2000.
It then details significant increases in the number of senior citizens and singles in recent years.
For instance, Colliers said the government projects the proportion of residents aged 65 years and over to account for some 15 per cent of the population by 2020.
It added that by another 10 years, the population of seniors will increase to 960,000 or 20 per cent of the population.
Similarly, the number of one-person households has expanded by 85.5 per cent from 75,400 in 2000 to 139,900 in 2010.
This number excludes the singles staying with families, as well as households with no family nucleus (singles staying with other singles).
To cater to senior citizens, Colliers has recommended the development of a retirement village by the government and developers.
It added that the government could consider awarding sites on longer tenures - 99-year tenure or even longer tenures of 120 years or 150 years - for the development of a retirement village.
This will allow the developer to create a good quality product that caters to the elderly.
The developer can then sell the retirement village units to senior citizens on 15-year, 20-year and 30-year options, for which the units will revert back to the developer to re-sell to another set of retirees.
Colliers explained: "In this way, the economic lifespan of the retirement village units can be renewed over a longer period of time and the developer will be able to generate a reasonable return on the shorter leases."
To address the growing population of singles, Colliers has recommended a ratio/quota system.
This will be based on a "suitable proportion that the government deems healthy" in the make-up of a typical residential block.
Colliers added that the Housing and Development Board (HDB) could also consider building studio apartments for singles, or "a shoebox HDB flat" qualified for singles during a BTO application exercise.
- CNA/ms

[mcmlxxvi]

duplicated

[mcmlxxvi]

another report

http://pbs.twimg.com/media/A_FZcl3CEAA-hKX.jpg:large

http://t.co/LLph8Fwr

all signs point to upcoming revelation of bto for singles, akan datang

[phantom_opera]

by the time first single managed to book for his/her BTO ... market peaking

end up singles falling into trap of bubble

[chestnut]

Brudder, if they allow singles to buy BTO, do you know how many singles will not marry??? The only reason they will do this is because of "votes"... Question is, how many singles are there??? and would this group affect the "swing in outcome"? They will look into this and if the group is a formidable one, they will yield to them... If not, Wait Long Long.

another report

http://pbs.twimg.com/media/A_FZcl3CEAA-hKX.jpg:large

http://t.co/LLph8Fwr

all signs point to upcoming revelation of bto for singles, akan datang

[Kelonguni]

Brudder, if they allow singles to buy BTO, do you know how many singles will not marry??? The only reason they will do this is because of "votes"... Question is, how many singles are there??? and would this group affect the "swing in outcome"? They will look into this and if the group is a formidable one, they will yield to them... If not, Wait Long Long.

IMO, allowing singles to buy will be a distorted heating measure meant to support prices at current or higher levels.

Don't worry, our top brains are balancing the equation up there.

[chestnut]

IMO, allowing singles to buy will be a distorted heating measure meant to support prices at current or higher levels.

Don't worry, our top brains are balancing the equation up there.

To support higher levels, we dont need the singles... We just built less, that will do the job....

To get your answers, you need to think like them... Not like yourself... Then you will find the answer...

[DKSG]

To support higher levels, we dont need the singles... We just built less, that will do the job....

To get your answers, you need to think like them... Not like yourself... Then you will find the answer...

They must have analyzed the E results and noted that there are soooo many singles voted in a certain pattern.

Despite the campaign to get more people married give birth, etc. We all know government is doing this for their own good. The impact of these are still borne by the individuals.

Times have changed, the notion of marriage as a norm is eroding. Divorce rates are up year after year. Every year, Office Boy sure know of one or two colleague divorcing.

Anyway, back to properties! Getting singles to buy BTO is the right move, politically, or from a human basic right perspective.

DKSG

[chestnut]

Bro, look at Japan and u will know the FEAR....

[mcmlxxvi]

this is a multi faceted issue

blain dlain is the current focus covered in the report

votes or no votes, guess singles and seniors needs to be addressed in order to be branded First World society. its not and never been about numbers. pure strategic move.

[Kelonguni]

To support higher levels, we dont need the singles... We just built less, that will do the job....

To get your answers, you need to think like them... Not like yourself... Then you will find the answer...

Bro, build less means sell less although price go up. Votes lost too as antagonise many groups. Net revenue collected lesser due to less number of units moved. Most gains go to people who re-sell anyway, not directly to Govt.

Singles will be released at the most opportune time, when eligible couples and well to do singles are about exhausted. Its a win-win.

I am saying supporting entry level, not higher level.

[mcmlxxvi]

that said, i will still vote for MIW since they pushed me onto the boat prematurely (which turned out to be a good thing afterall) wakakakaka

[Lovelle]

hi mcm

u nvr know what this gov will do. after losing to WP in ALjjunied..there seems to be "flexible and negotiable" to everything ....hahaha

[mcmlxxvi]

IMO, a Singles Village can turn out to be a happening place.

Swinging Singles

Im sure we heard of.

Just one rule: No condo(m) allowed

[mcmlxxvi]

lovelle luv, thats why i luv this garment!

[NorthernStar]

BTO/HDB is to subsidy Singaporean for affordable housing, it shouldn't be used to discriminate the singles. Some people remain single are due to many reasons. As Singapore's population structure changed, it is nvr too late to review the policy.

I have friend who is still singles and he is quite struggling to look for his own 3 room HDB as the open market are asking too much COV + high valuation now.

Not everyone earning big bucks in this country.

[NorthernStar]

MARRIAGE 2011
Number of marriages involving at least one citizen 22,712

General marriage rate among citizens
(per 1,000 unmarried males / females aged 15-44 years)
Males 42.1
Females 39.4

Median age of citizens at first marriage (years)
Grooms 30.1
Brides 27.8

[chestnut]

Bro, build less means sell less although price go up. Votes lost too as antagonise many groups. Net revenue collected lesser due to less number of units moved. Most gains go to people who re-sell anyway, not directly to Govt.

Singles will be released at the most opportune time, when eligible couples and well to do singles are about exhausted. Its a win-win.

I am saying supporting entry level, not higher level.

Bro, eligible couples will never be filled up.. Look at how many are married a year and compare how many built.... U will find the answer... "limiting" supply causes couples to get married earlier... I understand your rationale... But do understand the MIW's rationale and u will find herein lies the answer.

[chestnut]

Brudder, I understand your thinking... I don't dispute... Ok... Cheers... Now if u are the govt, what would u do???? Tough answer rite... You put your white paper here, trust me, there will be 1000 or more complains.... Their > 1 mil pai tan... Thank goodness I not in politics... Hahahahahaha

Cheers

BTO/HDB is to subsidy Singaporean for affordable housing, it shouldn't be used to discriminate the singles. Some people remain single are due to many reasons. As Singapore's population structure changed, it is nvr too late to review the policy.

I have friend who is still singles and he is quite struggling to look for his own 3 room HDB as the open market are asking too much COV + high valuation now.

Not everyone earning big bucks in this country.

[roly8]

what i foresee is these BTO will sell at even most costly price..

[chestnut]

To your last statement - that's why govt prevent those more than 10k to apply new hdb... They also prevent those with condo to buy resale hdb... So they sort of level the playing field... That was quite nice of them.... Imagine the rich buy 10 hdb, what would happen... The rich can be very "mission" oriented hor...
So long as they make money, they don't care... Not all though... Some like this, u already faint...., if got 1000 like this, 10,000 hdb kana block by them for rental Liao....

BTO/HDB is to subsidy Singaporean for affordable housing, it shouldn't be used to discriminate the singles. Some people remain single are due to many reasons. As Singapore's population structure changed, it is nvr too late to review the policy.

I have friend who is still singles and he is quite struggling to look for his own 3 room HDB as the open market are asking too much COV + high valuation now.

Not everyone earning big bucks in this country.

[NorthernStar]

Brudder, I understand your thinking... I don't dispute... Ok... Cheers... Now if u are the govt, what would u do???? Tough answer rite... You put your white paper here, trust me, there will be 1000 or more complains.... Their > 1 mil pai tan... Thank goodness I not in politics... Hahahahahaha

Cheers

haha... i know there are endless complaints regardless how good the gov is.. i am not complaining here.. what i want to say is: policy need to be constantly reviewed.

I would not propose dramatic changes: Singles > 35(better if 30) can also buy BTO flat. This will be good enough... of course, they can not have private property.

Survey do show that most of the singles do want to marry if they find their "Right" ones. Give them sometimes to find, if still can't find by age 30s, do let them have their rights to own a subsided house earlier for their retire planning..

anyway, i am not qualified to buy HDB now...waiting my condo TOP in few months time..

[NorthernStar]

To your last statement - that's why govt prevent those more than 10k to apply new hdb... They also prevent those with condo to buy resale hdb... So they sort of level the playing field... That was quite nice of them.... Imagine the rich buy 10 hdb, what would happen... The rich can be very "mission" oriented hor...
So long as they make money, they don't care... Not all though... Some like this, u already faint...., if got 1000 like this, 10,000 hdb kana block by them for rental Liao....

yup.. i agreed on this..

My friend's income < 2.5K per month.. With some saving and some money kena burned in 2008. I have been accompanied him to view resale HDB for past 2-3 months. Established estate > 25 years-old, 3Rooms, asking for 30K-50K COV. Need reno some more. Hard for him to swallow and he also afraid of losing job... Dare not commit till now. Anyway, I do wish he can get subsided home.

I have been wondered: if gov allows them to buy HDB earlier, will this help them to think/plan their expense behavior? ie. let them committed to a size-able home loan. This will force them to re-think how they spend their limited income. In addition, they will have longer time to serve the loan and eventually their retirement can be taken care of with the hard asset.

I knew a few single friends spend here and there as they don't have any commitment right now.

[phantom_opera]

I quote one minister .. dun flame me

Cannot afford SG hospital, go JB loh, Medisave can use there

now sooner or later

Cannot afford HDB, go JB loh, CPF OA can use there

[chestnut]

Bro, they allow singles to buy, what is the effect of marriage.... Will there be some who will cross over (not get married - that is the fear)??

yup.. i agreed on this..

My friend's income < 2.5K per month.. With some saving and some money kena burned in 2008. I have been accompanied him to view resale HDB for past 2-3 months. Established estate > 25 years-old, 3Rooms, asking for 30K-50K COV. Need reno some more. Hard for him to swallow and he also afraid of losing job... Dare not commit till now. Anyway, I do wish he can get subsided home.

I have been wondered: if gov allows them to buy HDB earlier, will this help them to think/plan their expense behavior? ie. let them committed to a size-able home loan. This will force them to re-think how they spend their limited income. In addition, they will have longer time to serve the loan and eventually their retirement can be taken care of with the hard asset.

I knew a few single friends spend here and there as they don't have any commitment right now.

[hyenergix]

I quote one minister .. dun flame me

Cannot afford SG hospital, go JB loh, Medisave can use there

now sooner or later

Cannot afford HDB, go JB loh, CPF OA can use there

Actually what the minister said is true. I quite enjoy my JB trips now after the initial fear Yes, the savings are huge and I would like to retire there and I think the medical treatments will reach quite good standards (for private hospitals) in 10-20 years' time. Securities aside hor (but then Singapore's is deteriorating with growing population and greater mix of foreigners).

[phantom_opera]

Actually what the minister said is true. I quite enjoy my JB trips now after the initial fear Yes, the savings are huge and I would like to retire there and I think the medical treatments will reach quite good standards (for private hospitals) in 10-20 years' time. Securities aside hor (but then Singapore's is deteriorating with growing population and greater mix of foreigners).

actually security is not a problem if you dun wear Rolex, dun drive BMW, dun walk in dark alleys and your property in JB does not look a million

[NorthernStar]

I quote one minister .. dun flame me

Cannot afford SG hospital, go JB loh, Medisave can use there

now sooner or later

Cannot afford HDB, go JB loh, CPF OA can use there

haha. foreigners are allowed to buy property in Malaysia with value > RM500K.. Penang and KL already changed to RM1mil.. Sooner, JB will follow Penang and KL to up the minimum amount.

Buy now or marry a Malaysian.. quick!

[chestnut]

haha. foreigners are allowed to buy property in Malaysia with value > RM500K.. Penang and KL already changed to RM1mil.. Sooner, JB will follow Penang and KL to up the minimum amount.

Buy now or marry a Malaysian.. quick!

Can u imagine how the johorians feel about us and how we jack up the prices and caused immense inflation???.

Hhahahaha

[NorthernStar]

Bro, they allow singles to buy, what is the effect of marriage.... Will there be some who will cross over (not get married - that is the fear)??

emm.. that's why i still suggest to set the age limit....Marriage is not mixed and match..