Latest news with #ageingPopulation
CNA
09-07-2025
- Business
- CNA
Singapore's housing demand to keep rising amid lifestyle shifts, ageing population: URA, HDB
SINGAPORE: Housing demand in Singapore is expected to continue rising, driven by an ageing population, smaller households and changing demographic patterns and lifestyle preferences. The Urban Redevelopment Authority (URA) and Housing and Development Board (HDB) said these trends were key considerations in the Draft Master Plan 2025 released last month, which outlines plans to build at least 80,000 public and private homes over the next 10 to 15 years. More housing developments are needed in the long run to meet the growing demand and adapt to changing population needs, the two agencies said in response to CNA's queries. Housing plans are driven by a variety of factors, they said. "These include meeting strong near-term demand, ensuring a steady supply to support a stable property market, as well as responding to evolving demographic trends and lifestyle preferences amongst the population. "At the same time, we remain focused in ensuring that housing remains accessible in the long term for current and future generations," URA and HDB said. "We also take into account a range of possible future scenarios, including socioeconomic developments and shifts in the global environment." Social and lifestyle changes are already contributing to strong housing demand, and these patterns are likely to persist, the agencies said. For example, increasing life expectancy means homes are occupied for longer. At the same time, more young couples and singles now want their own homes instead of staying with their extended families. This trend is reflected in Singapore's shrinking household sizes – from 3.96 in 1995 to 3.09 in 2024. Demand is also being driven by "echo boomers" – those born in the late 1980s to 1990s – reaching the age of home ownership, URA and HDB said. The agencies said the new housing plans 'will be progressively implemented', and that the government will continue monitoring the market closely to 'calibrate housing supply accordingly'. POPULATION GROWTH Experts interviewed by CNA agreed that housing demand remains elevated despite a falling birth rate, largely because of demographic and lifestyle changes. One major trend, they said, is a 'significant mindset shift' towards forming smaller or single-person households. Another factor is overall population growth. As of June 2024, Singapore's total population stood at 6.04 million – a 2 per cent rise from a year ago – mainly due to a 5 per cent increase in the non-resident population. This is the first time Singapore's population has crossed the 6-million mark. This growth, even though largely driven by non-residents, has contributed to increased demand for private housing, both for purchase and rental, said Dr Woo Jun Jie, senior lecturer at the Lee Kuan Yew School of Public Policy, who researches urban governance. Looking ahead, experts believe Singapore's housing strategy must accommodate a potentially larger foreign workforce to counterbalance the country's falling birth rate and an ageing population. 'Although the government has not wanted to issue a population 'target' since the poorly received Population White Paper in 2013, it is clear that with declining fertility and an ageing population, the Singapore resident population will decline in the near future without immigration,' said Singapore University of Social Sciences Associate Professor of Economics Walter Theseira. 'The Singapore workforce will likewise decline without foreign employment inflows.' It "seems clear" that the government would not be planning for a declining workforce. This means that when it comes to housing, the plan is to cater to both permanent and non-permanent immigration, Assoc Prof Theseira said. The Population White Paper released in 2013 estimated that Singapore's population could reach between 6.5 million and 6.9 million by 2030. The projection sparked a public outcry and the government clarified that this was a planning parameter, not a forecast or target. Since then, the government has said that it does not have a population target in mind. In a January 2023 parliamentary reply, the Ministry of National Development reiterated that 'infrastructure planning in Singapore is not based on a population target'. WHERE THE NEW HOMES WILL BE The latest master plan includes new neighbourhoods in areas such as Newton, Paterson, Dover-Medway along Dover Road, the former site of Singapore Racecourse in Kranji, as well as Paya Lebar Air Base and the Sembawang Shipyard area. Experts said decisions on housing types in each area are guided by factors such as land value, allowable density and the availability of land. For example, prime areas with high land prices like Newton and Paterson are slated for private housing, in line with development costs and demand for high-end residences, said professor of finance and real estate Qian Wenlan from the National University of Singapore's business school. In contrast, districts like Dover-Medway are 'relatively more affordable'. 'With existing commercial and academic hubs nearby (in the Greater One-North area), a mix of public and private housing ensures a broader spectrum of residents, helping to form a diverse catchment area for these hubs,' she said. Assoc Prof Theseira added that public housing projects in Singapore are typically large-scale developments with high density to justify investment in infrastructure like a town centre, polyclinic, hawker centre and public transport. 'Thus, we generally no longer develop standalone small blocks of public housing and we need a larger neighbourhood or area to develop. The land values must also be low enough that after subsidies, they are still affordable as public housing,' he said. 'The purely private development areas tend to have one or more factors that mean public housing development is infeasible.' Meanwhile, these new neighbourhoods will also have to fit into the government's broader plans, such as a "decentralisation strategy" to create economic areas beyond the city centre and bring jobs closer to homes, said Professor Qian. For example, Bishan town centre will be redeveloped into a business hub with 200,000 sq m of new office space. Plans also include a new hawker centre integrated with a revamped bus interchange, a polyclinic and a new mall. Mixed-use developments that include homes, retail and dining have been proposed for neighbourhoods such as Newton and Paterson. Prof Qian said these new towns are designed to maximise land-use efficiency, featuring high-rise living integrated with amenities. While many of the new homes will be located in less densely populated areas, such as Kranji and Sembawang, neighbourhoods like Bishan may see slight increases in density with upcoming redevelopment and Build-to-Order projects. Still, 'higher density may not necessarily translate into more crowdedness', said Dr Woo.
South China Morning Post
08-07-2025
- Business
- South China Morning Post
Japan's rent-a-grandma service throws elderly a lifeline amid cost of living pressures
'Grandma rental' services have caught on in Japan , providing an alternative source of income for the country's ageing population seeking to alleviate the cost of living pressures amid rising inflation. Advertisement For 3,000 yen (US$20) per hour, clients are set up with a woman aged 60 to 94 who will help with requests ranging from teaching cooking skills to breaking up with partners on her client's behalf, according to local news site SoraNews24. The elderly women can also babysit and mediate family disputes, and some have even been called in to act as emotional support for couples breaking up or men coming out as gay to their parents. Others have provided insight for clients researching societal changes in Japan. Called OK Obaachan (OK Grandma), this unique service currently has a roster of about 100 women who reportedly offer housework expertise, interpersonal skills and historical knowledge. Client Partners' OK Obaachan service will match clients with a woman aged 60 to 94 who will offer grandmotherly support. Photo: Client Partners The service was launched in 2011 by a company called Client Partners, which, according to its website, is a 'women-only handyman company' that sets women up with jobs from housekeeping to being a 'talking companion'. Besides grandmas, the company also offers rental services for other female family members and friends. Advertisement In addition to the hourly fee, clients pay 3,000 yen to cover the women's transport costs.
Reuters
07-07-2025
- Business
- Reuters
Reuters NEXT Asia: Global leaders address challenges and opportunities
21:15 EDT Video On Wednesday, Reuters journalists will speak to policymakers and business leaders about some of the greatest challenges and opportunities facing the world, at the annual Reuters NEXT Asia summit in Singapore. The event will feature exclusive interviews with: Philippines Secretary of National Defense Gilberto Teodoro Co-Founder and Chief Technology Officer Lou Tiancheng Singapore's Coordinating Minister for National Security & Minister for Home Affairs K Shanmugam Malaysia's Minister of Investment, Trade and Industry Tengku Zafrul Aziz Among the topics of discussion will be trade and tariffs, artificial intelligence and how Asia is preparing for an ageing population. The event begins at 8:45 a.m. SGT (0045 GMT).
Malay Mail
31-05-2025
- Business
- Malay Mail
Healthy life for a healthy ageing — Mohammad Tariqur Rahman
MAY 31 — Eternity is what man desires, with or without knowing the purpose of having an eternal life. Albeit, achieving that eternal life remains either in a dream, fiction, or in divine pledge in the life hereafter. Then, a more realistic expectation (goal) for a man is to dream of a prolonged life in this world. According to the World Health Report 1998, the average life expectancy at birth in 2025 was expected to be 73 years, which was 48 years in 1955, and 65 years in 1995. Today, on average, people live more than 73 years. Average life expectancy in Europe, Oceania, America, and Japan is close to 80 years. In Malaysia, it is more than 74 years. Indeed, the prediction came true. In other words, the dream of having a prolonged life is now a reality. How long will people live who will be born in the year 2040 and beyond? The more pressing question is to fathom the expected lifespan of those who are in their 40s or younger today. Looking at the trend of increasing life span, it is not unlikely that they might live longer than those who were in their 40s twenty years ago. Turning the dream of a prolonged life into a reality came with a price — the cost of coping with the ageing population. Developed countries are facing the challenges of declining labour force participation and increased healthcare costs to cope with the ageing population. Malaysia will not be an exception. The simple and straightforward policy strategy is to estimate the potential ratio of the aged population, then prepare the necessary infrastructure, including the required number of geriatricians and caregivers to provide support for the elderly. Given the rise of artificial intelligence, the countermeasure to deal with a declining labour force participation and increased healthcare costs might be easier than anticipated. Developed countries are facing the challenges of declining labour force participation and increased healthcare costs to cope with the ageing population. — Unsplash pic For example, replacing human labour with AI, especially by developed nations, would minimise the shortage of human labour in the long run. But that will not solve the problem of the burden of the growing aged population in society. Every nation has to deal with the elderly. At the same time, there is a strong possibility that the elderly in the future might face different health complications from those of today. It is well known that the risk of developing dementia rises steeply with age in people of 60 years. In addition to that, a population-based study in Seoul suggested a potential link between Covid-19 vaccination, particularly mRNA vaccines, and increased incidences of Alzheimer's disease and mild cognitive impairment. If that trend continues, dealing with the cognitively impaired elderly will require additional measures than those with physical ailments. Besides, dealing with the elderly in 2040 and beyond will come with different sets of challenges. Those who are in their 40s today will belong to the elderly by 2040 and beyond. Several unforeseen health determinants emerge among these current youths and adults that were less prevalent among their earlier counterparts. According to the Department of Statistics, at the Ministry of Economy (Malaysia), the number of marriages decreased 12.5 per cent from 215,022 (2022) to 188,100 (2023). Arguably, happy marriages are linked to a healthy life at an older age. Besides, a family life comes with an opportunity for family care of the elderly by their next generations. Hence, those who are forced or intended to continue unmarried life might face unforeseen mental and physical health concerns in their old age. Struggles with economic precarity, job security, and workplace stress are more common among the current generations of youths and adults. This array of continuous physical and psychological stress incubates the potential non-communicable diseases, such as cardiovascular diseases, at an older age. In other words, those who are in their 40s living a stressful life are expected to face challenging health issues in their old age. Finally, the experience of Covid-19 made us ponder with caution if there should be another emerging pandemic that will be equally or more fatal for the elderly with or without the comorbidity of diabetes and cardiovascular diseases. In summary, the elderly in 2040 and beyond might struggle more with cognitive impairment, non-infectious diseases, and above all, psychological distress. Therefore, the long-term policy to ensure good health for the aged population is not only about building infrastructure but also ensuring that the youths and adults today will have a healthy life for a healthy ageing. At the same time, the possibility of unforeseen fatality of the elderly with another potential pandemic must remain in the backdrop of the policy platform. * Professor Mohammad is the Deputy Executive Director (Development, Research & Innovation) at International Institute of Public Policy and Management (Inpuma), Universiti Malaya, and can be reached at [email protected] ** This is the personal opinion of the writers or publications and does not necessarily represent the views of Malay Mail.
CNA
28-05-2025
- Business
- CNA
AI platform Enigma slashes clinical audit time by 90%
Singapore is using artificial intelligence to tackle challenges of an ageing population and reduce stress on hospitals. At the Singapore National Eye Centre, AI platform Enigma helped to conduct clinical audits for cataract surgeries. It analysed more than one million data points over six months last year, cutting down processing time by 90%.
