Growing Aged 50+ affluent population raise demand for smaller homes in Singapore
June 13, 2023 - Singapore
Data from Savills showed that 47% of Singapore affluent population will be aged 50 and above by 2023.
With almost 47% of the affluent individuals in Singapore hitting the age of 50 and above by 2023, Savills has urged developers to consider building smaller homes and apartments.
With an ageing population, Singapore residents are likely to downsize from more expensive or larger homes. They are looking to reduce their effort expended to maintain the homes as well, it decreases the risks of accidents as their ambulatory coordination skills weaken over time.
Source from: Singapore Business Review
blog, Homes, Singapore, affluent