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Real Estate Realities by Ku Swee Yong

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15.

Are sixty-year leasehold residences here to stay?

 

17 January 2014, TODAY

We are reminded regularly that one in five Singaporeans will be over the age of sixty-five come 2030. Immigration policies and the mix of new Singaporeans can alter our demographics, but the total number of senior citizens will certainly increase.

In public housing, the Housing and Development Board (HDB) already has several schemes catering for the elderly. But a pilot project was introduced in 2012 on the private housing front: Sixty-year leasehold residences targeted at retirees. To test the interest of developers, the Urban Redevelopment Authority (URA) was generous in its incentives for this project provided conditions around Retirement Housing were met: An ...

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