The average family size dropped to 3.2 men in 2018 by 3.5 in 2009.
Singapore would have to construct at least 25,000 housing units annually to reach 300,000 units by 2030 if the average family size will continue to contract in a similar speed with the previous 10-year interval, according to a CBRE report.
The average family size dropped from 3.5 to 3.2 in 2018, resulting in moderate sizes of new private homes moving down from 111 sqm from 2009 to 70 sqm in 2018.
As an instance, an HDB 5-room apartment is currently about 110 sqm out of 120 sqm from the 1990s.
Statistics from Singstat said that the amount of families with one individual rose 69 percent to 185,400 compared to ten decades back.
At precisely the exact same period, the amount of couple-based families without kids grew by 43 percent, while single parent families grew by 28%, contributing to smaller family sizes.
CBRE attributed the slumping home sizes to increasing land prices as programmers are enthusiastic about keeping the prices cheap.
But, CBRE noted that this doesn’t translate to smaller living area per person due to lifestyle modifications, digitalisation of press and contracting appliances. As an example, the living area per person within an HDB 5-room apartment remained at 28 sqm for the previous two decades.
What’s more, the government can also be freeing up area to take in more residential property in Tengah, Kampong Bugis, Bayshore and the Greater Southern Waterfront (GSW).
HDB also introduced choices to seniors wherein they are able to either monetise their apartment by rightsizing into a smaller apartment or by engaging in a rental buyback strategy where they could promote the rest of the rental of a flatsurface.