31 Oct '17, 4am

Singapore in need of senior housing projects: report

Expecting the ageing population in Singapore to increase to one in four by 2030, the city-state may be in need of private residential developments that cater specifically to seniors. This comes as “most senior citizens want to live independently and age-in-place rather than move into a nursing home,” said Edmund Tie & Co in a report. But unlike those living in public housing, who have various options to monetize their homes such as the Lease Buyback Scheme, Silver Housing Bonus Scheme and HDB’s two-room Flexi Flats, private homeowners have fewer options to extract housing equity. Private home owners will have to downsize or move into HDB dwellings in order that they may unlock their homes’ equity. And while elderly friendly features will command higher demand over time, the social stigma associated with senior housing may also deter buyers from acquiring units from such pr...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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