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Issue 372

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CONTENTS FROM THE

p2 Singapore Has the World’s Lowest Fertility


EDITOR
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Singapore Property Weekly.
Rate – Accept It
Hope you like it!
p9 Resale Property Transactions
Mr. Propwise
(September 20 – September 28)

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SINGAPORE PROPERTY WEEKLY Issue 372

Singapore Has the World’s Lowest Fertility Rate – Accept It

By Property Soul (guest contributor)

Recently a Straits Times article said


Singapore’s total fertility rate plunged to a
seven-year low of 1.16 last year. It is well
below the replacement rate of 2.1.

Do you know that Singapore has the lowest


fertility rate in the world?

According to the 2017 World Factbook


published by the Central Intelligence Agency,
the four countries with the lowest total fertility
rate in the world are namely Singapore (0.83),
Macau (0.95), Taiwan (1.13) and Hong Kong
(1.19).

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SINGAPORE PROPERTY WEEKLY Issue 372

Our neighbour Malaysia obviously has much fallen from 1.67 million in 2016 to 1.64 million
higher “productivity”. It occupies the 80th today.
position in a list of 224 countries from high to
Even if our population inches 0.5 percent for
low fertility.
the next two years, Singapore will at most
6.9 million by 2030 is just a dream have 5.7 million people by June 2020.

There is another Straits Times article on the As I have said in my blog post “Singapore’s
same day with the title “Total population latest demographics: what it means for
5.64m, with number of citizens up 1% to housing”, unless the government starts
3.47m”. importing 150,000 foreigners a year from
tomorrow, we will be far from the Population
Singapore’s total population has increased
White Paper’s original target to hit 6 million by
0.5 percent to reach 5.64 million in June this
2020.
year. This is already a big improvement
compared with 0.1 percent rise last year. The population trends of low birth rate,
stagnant growth and aging population are
The number of citizen births in 2017 is
here to stay.
32,356, a 2.4 per cent drop from 2016.
Yet many in the real estate industry are still
The PR population has remained stable over
indulging in relentless building and marketing
the last five years, hovering between 0.52
of new homes in the Little Red Dot, as if there
and 0.53 million. Non-resident population has
was a real need to house 6.9 million by 2030.

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SINGAPORE PROPERTY WEEKLY Issue 372

Our government’s approach on low birth We don’t have to run a census to know that
rate large young families in Singapore are
exceptional cases these days.
Whenever data shows Singapore has
miserable birth rate, the local media will react We don’t need a crystal ball to see that late
by advocating the importance of marriage, marriages, more singles and less children per
children and family. couple will be here to stay.

The last time was in July when The Straits We don’t need a Sociology degree to
Times featured a series of stories about how understand that Singapore’s low fertility and
young parents enjoy family life with their big aging population are the inevitable result of
family. being a developed country.

Readers were brainwashed with articles titled According to the World Factbook, out of the
“Supersized families: More couples in top twenty countries with high total fertility
Singapore are not stopping at two”; “More rate, almost all of them are in Africa.
families having four or more children”;
But our ministers responsible for family
“Married for 18 years, with 10 children – and
planning don’t seem to see this. Our
counting”; “Family joy from 7 kids, four of
government and local media continue to deal
whom have special needs”; “When three kids
with a modern problem using a dated
are still not enough” …
approach.

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SINGAPORE PROPERTY WEEKLY Issue 372

Embracing traditional values is entitled to 8 and 10 weeks of maternity leave


commendable. But we also need the wisdom respectively. Fathers take just a 3-day
to tell the difference between an ideal world paternity leave.
and a practical world.
The Singapore government is also generous
“Do not cling to anything that will eventually in giving out baby bonuses and topping up
cease to exist. No matter how much time or Child Development Accounts.
energy or money you invest in it, once
Besides, Singapore is the best country in the
something is gone, it is gone forever.”
world for children to grow up in. According to
– Jim Rogers, A Gift To My Children the study, Singapore performs well in all the
eight judging criteria: under-five mortality rate,
How effective are the goodies?
child stunting, out-of-school children and
Have we done enough to encourage youth, child labour, child marriage, adolescent
Singaporeans to have more babies? How birth rate, population displaced by conflict,
effective are these measures? and child homicide rate.
Mothers who are citizens are entitled to 16 Isn’t it ironic that our fertility rate is still the
weeks of government-paid maternity leave lowest in the world?
while fathers are given two weeks of paternity
Our older generations saw marriage and
leave.
raising children as a stage of life and a
In Taiwan and Hong Kong, mothers are only personal responsibility.

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SINGAPORE PROPERTY WEEKLY Issue 372

They never received any incentive from the focused on results and achievements. Our
government or assistance from their society measures success according to
workplace. wealth and social status.

If the government believes that the more Yet when it comes to fertility, we ask our
goodies they give out, the more motivated the young generation to take it easy on their
people to have babies, it is fighting a losing work, spend time dating, start a family early,
battle. and go for more children.

Because no amount of bonus can lessen the Can’t anyone see that we are asking the
pain of a mother during childbirth. No amount same small group of citizens to commit to two
of top-up can compensate for the time and self-conflicting and equally time-consuming
effort of a parent to raise a child. activities simultaneously in a short time span?

Every year when the population brief shows a


We want to have our cake and eat it too
falling birth rate and lower population growth,
Singapore strives to be number one in news articles will conveniently put the blame
everything. We aspire to be the hub of all on late marriages and singles.
major industries and future technologies.
The Straits Times article said the biggest
So we train and require our children, workers, proportion of women staying single is in the
employees and SMEs to be competitive, prime childbearing years of 25 to 29.
efficient and productive. Our country is highly

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SINGAPORE PROPERTY WEEKLY Issue 372

Is this “prime childbearing years” relevant to mortgage, having babies, childcare, tuition,
Singapore? PSLE …

I remember years ago my confinement lady If you are a woman, you are given additional
told me that, in her twenty years’ of responsibilities of conceiving, pregnancy,
confinement assignments in Singapore, she delivery, confinement, breastfeeding, raising
never had any client under the age of 30, children, in-laws, house chores, domestic
except one who had a shotgun marriage in helpers, another pregnancy – while trying to
her early twenties. balance your life as a working mother.

When starting a family becomes a matter You learn to excel in every responsibility as
of choice an employee, a wife, a mother, a daughter
and a daughter-in-law. For all the time, effort,
If you are single, you only have one problem:
sweat, tears, blood, compromise and sacrifice
Being asked why you are single and you may
over two decades, you can almost build a
be lonely.
business empire.
If you are married, you will still be lonely. The
Other women are also doing the same. You
difference is you have no time to deal with
are doing your “national service” as a woman
your loneliness.
in this “infertile” land.
From the moment you say yes, you are busy
Your job has no promotion, no CPF, no
with wedding, house hunting, renovation,
annual leave, no reimbursement, no fringe

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SINGAPORE PROPERTY WEEKLY Issue 372

benefit, no package, no bonus, no dividend, why can’t we accept the resulting population
no pay, no nothing. You are required to work trend and learn to live with it?
24×7 with no day off. Yet you won’t be
Just as an economist from the Singapore
allowed to quit, resign or change job.
University of Social Sciences said: “If you
The fact is: You must really love this job to have zero or negative population growth, we
apply for it and carry on till the very end. would have to radically restructure the way
we deal with major policies. For example,
The reality is: The new generation knows that
some things we take for granted, like new
they have the choice to decide whether and
Housing Board flats, may no longer be built
when they marry and have babies. This is
because there are not enough people to live
unlike last time when people think they should
in them.”
do it because everybody else is doing it.
It’s time we stopped dreaming about a 6.9
If more people choose not to have babies, do
million population and planned our housing
you still want to have children?
for a stagnant and aging population.
If the majority are singles, do you still want to
By guest contributor Property Soul, a
get married?
successful property investor, blogger, and
Even if some choose to be single or childless, author of the No B.S. Guide to Property
there will always be others who go for it. Investment.
If Singapore has chosen the path of elitism,

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SINGAPORE PROPERTY WEEKLY Issue 372

Non-Landed Residential Resale Property Transactions for the Week of Sep 20 – Sep 28

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
1 ROBINSON SUITES 1,087 2,700,000 2,484 FH 9 8 @ MOUNT SOPHIA 1,442 2,150,000 1,491 103
3 THE CREST 807 1,699,000 2,105 99 9 ORCHARD TOWERS 1,970 2,800,000 1,421 FH
3 ASCENTIA SKY 1,475 1,970,000 1,336 99 9 8 @ MOUNT SOPHIA 1,539 2,080,000 1,351 103
3 TANGLIN VIEW 1,152 1,500,000 1,302 99 10 LEEDON RESIDENCE 2,131 4,900,000 2,299 FH
4 THE INTERLACE 1,873 2,480,000 1,324 99 10 STELLAR RV 538 950,000 1,765 FH
5 JUBILEE RESIDENCE 495 690,000 1,394 FH 10 THE BALMORAL SPRING 1,119 1,950,000 1,742 FH
5 THE PARC CONDOMINIUM 1,292 1,780,000 1,378 FH 10 D'LEEDON 1,399 2,250,000 1,608 99
5 THE VISION 1,302 1,450,000 1,113 99 10 D'LEEDON 1,615 2,460,000 1,524 99
5 BLUE HORIZON 926 966,000 1,044 99 10 THE TESSARINA 1,249 1,830,000 1,466 FH
5 BLUE HORIZON 1,152 1,200,000 1,042 99 10 MONTVIEW 3,412 3,780,000 1,108 FH
7 SOUTH BEACH RESIDENCES 1,593 5,400,000 3,390 99 11 SOLEIL @ SINARAN 958 1,740,000 1,816 99
7 SOUTH BEACH RESIDENCES 1,625 5,376,000 3,308 99 11 LUCIDA 1,098 1,650,000 1,503 FH
8 CITY SQUARE RESIDENCES 1,216 1,700,000 1,398 FH 11 THE AXIS 398 583,000 1,464 FH
8 SUITES 123 581 747,500 1,286 FH 11 ROCHELLE AT NEWTON 1,701 2,480,000 1,458 99
9 THE MARQ ON PATERSON HILL 3,089 9,750,000 3,156 FH 12 PRESTIGE HEIGHTS 334 570,000 1,708 FH
9 MARTIN NO 38 969 2,400,000 2,477 FH 12 EIGHT RIVERSUITES 840 1,270,000 1,513 99
9 THE METZ 570 1,360,000 2,384 FH 12 THE VIRIDIAN 893 1,300,000 1,455 FH
9 THE PATERSON EDGE 1,281 3,050,000 2,381 FH 12 D'LOTUS 570 818,000 1,434 FH
9 ESPADA 667 1,520,000 2,278 FH 12 NOVA 48 861 1,130,000 1,312 FH
9 THE BEAUMONT 1,475 2,880,000 1,953 FH 12 OLEANDER TOWERS 893 990,000 1,108 99
9 LEONIE SUITES 926 1,720,000 1,858 99 12 BELMONDO VIEW 1,313 1,380,000 1,051 FH
9 ROBERTSON 100 883 1,600,000 1,813 FH 13 8@WOODLEIGH 861 1,230,000 1,428 99
9 LUMA 1,173 2,060,000 1,756 FH 13 PARC MONDRIAN 1,195 1,580,000 1,322 FH
9 8 @ MOUNT SOPHIA 1,378 2,100,000 1,524 103 14 GUILLEMARD SUITES 560 855,000 1,528 FH

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SINGAPORE PROPERTY WEEKLY Issue 372

Postal Area Transacted Price Postal Area Transacted Price


Project Name Tenure Project Name Tenure
District (sqft) Price ($) ($ psf) District (sqft) Price ($) ($ psf)
14 THE TRUMPS 614 800,000 1,304 99 18 TROPICAL SPRING 1,335 1,210,000 907 99
14 PAYA LEBAR RESIDENCES 1,292 1,608,000 1,245 FH 18 LIVIA 1,410 1,240,000 879 99
14 VACANZA @ EAST 1,033 1,280,000 1,239 FH 18 SAVANNAH CONDOPARK 1,453 1,268,888 873 99
14 ESCADA VIEW 1,163 1,110,000 955 FH 19 CASA CAMBIO 409 610,000 1,491 FH
15 ARTHUR 118 926 1,415,000 1,529 FH 19 RESIDENCES BOTANIQUE 1,184 1,510,000 1,275 FH
15 RIVEREDGE 1,012 1,520,000 1,502 99 19 LA FIESTA 990 1,150,000 1,161 99
15 JUPITER 18 431 620,000 1,440 FH 19 KOVAN MELODY 1,302 1,500,000 1,152 99
15 ONE EIGHTIES RESIDENCES 1,238 1,750,000 1,414 FH 19 TERRASSE 657 740,000 1,127 99
15 HAIG COURT 1,442 2,020,000 1,400 FH 19 RIVERSOUND RESIDENCE 904 950,000 1,051 99
15 SEASIDE PARK 592 738,000 1,247 999 19 CHILTERN PARK 915 960,000 1,049 99
15 THE MONTAGE 1,098 1,300,000 1,184 FH 19 FONTAINE PARRY 1,991 2,018,000 1,013 999
15 ELLIOT AT THE EAST COAST 2,142 2,450,000 1,144 FH 20 THOMSON V TWO 474 705,000 1,489 FH
16 URBAN VISTA 850 1,200,000 1,411 99 20 GOLDENHILL PARK CONDOMINIUM 1,561 2,250,000 1,442 FH
16 CHANGI GREEN 1,055 1,020,000 967 FH 20 COUNTRY GRANDEUR 1,442 1,860,000 1,290 FH
16 EAST MEADOWS 1,195 1,150,000 963 99 20 GRANDEUR 8 1,227 1,270,000 1,035 99
16 AQUARIUS BY THE PARK 1,206 1,135,600 942 99 20 THE GARDENS AT BISHAN 1,582 1,585,000 1,002 99
17 THE INFLORA 474 540,000 1,140 99 20 THE GARDENS AT BISHAN 1,798 1,560,000 868 99
17 COASTAL BREEZE RESIDENCES 947 820,000 866 99 21 THE CASCADIA 1,044 1,680,000 1,609 FH
17 LOYANG VALLEY 1,991 1,450,000 728 99 21 THE HILLFORD 398 500,800 1,257 60
17 CARISSA PARK CONDOMINIUM 1,335 950,000 712 FH 21 SYMPHONY HEIGHTS 969 1,210,000 1,249 FH
18 Q BAY RESIDENCES 797 923,000 1,159 99 21 THE HILLSIDE 1,044 1,250,000 1,197 FH
18 DOUBLE BAY RESIDENCES 1,270 1,441,000 1,135 99 21 SOUTHAVEN I 1,076 1,058,000 983 99
18 DOUBLE BAY RESIDENCES 1,367 1,520,000 1,112 99 21 N.A. 915 410,000 448 99
18 D'NEST 753 830,000 1,102 99 22 J GATEWAY 474 880,000 1,858 99
18 THE PALETTE 893 930,000 1,041 99 23 ECO SANCTUARY 700 890,000 1,272 99
18 NV RESIDENCES 743 758,000 1,021 99 23 HAZEL PARK CONDOMINIUM 980 1,150,000 1,174 999
18 Q BAY RESIDENCES 1,033 1,030,000 997 99 23 HILLVIEW REGENCY 1,195 1,125,000 942 99

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SINGAPORE PROPERTY WEEKLY Issue 372

Postal Area Transacted Price


Project Name Tenure
District (sqft) Price ($) ($ psf)
23 GUILIN VIEW 1,259 1,005,000 798 99
23 PARKVIEW APARTMENTS 1,119 815,000 728 99
25 ROSEWOOD SUITES 990 785,000 793 99
26 BULLION PARK 1,259 1,420,000 1,128 FH
27 EIGHT COURTYARDS 1,227 1,195,000 974 99
27 THE ESTUARY 1,528 1,460,000 955 99
27 THE ESTUARY 926 880,000 951 99
28 RIVERBANK @ FERNVALE 495 590,000 1,192 99
28 SELETAR PARK RESIDENCE 1,076 1,150,000 1,068 99
28 MIMOSA PARK 2,153 1,938,000 900 FH

NOTE: This data only covers non-landed residential resale property


transactions with caveats lodged with the Singapore Land Authority.
Typically, caveats are lodged at least 2-3 weeks after a purchaser
signs an OTP, hence the lagged nature of the data.

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