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Singapore Population Close To 7 Million By 2030 According To White Paper
Singapore’s population could hit 6.9 million in 2030 – up from the current 5.3 million – if strategies outlined in the White Paper on Population to mitigate the country’s aging and shrinking population are met. – CNA
It must be a tough decision for the government to make on regards to population issues. This was a hot topic during the General Elections and the By Elections. The tradeoff has to be made. The focus must now shift into integrating communities to avoid disharmony.
We will continue to welcome immigrants who can contribute to Singapore, share our values and integrate into our society. – A Sustainable Population For A Dynamic Singapore
For property investors, this could be good news as there will undoubtedly be a huge stream of property buyers sustaining good prices and tenants to take up rental space. Not only does this means good prospects for residential properties, but also commercial and industrial properties as well when the effects trickle down. Overseas companies will need more office space for their operations, local businesses supporting foreign companies will expand their operations as well. While the new population needs a home to live in whether bought or rented.
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According to the paper, Singapore’s resident population comprising of citizens and permanent residents will reach somewhere between 4 million to 4.1 million by 2020. Of that number, Singaporeans are seen to make up 3.5 million to 3.6 million. – Yahoo!
And as ABSD continue to be a scrooge to the property price monster waiting to pounce, it could turn out that first time buyers will rush in to buy properties for investment while continuing to live with their families to exploit the apparent advantage.
To achieve this, enough land will be set aside for an additional 700,000 homes, or more if needed. – Yahoo!
If we are to loosely take the 1.6m increase in population and divide it be the 700,000 new homes, we would end up with 2.28. When we take into account data from Singstat that the average household size is 3.5 in 2010, it will appear that the planned infrastructure is sufficient to cope with the planned population increase.
As expected this news has quickly become a hot topic on established forums like hardwarezone. Only time will tell of the pros outweighs the cons on the direction of population policies.
When the property cooling measures were announced recently, it was expected that the property market will take a big hit. But the plans reveals in the White Paper could resurrect the property rush yet again. Let us know what you would do taking into consideration these 2 issues.