HOMEOWNERS � TREATMENT OF THEIR HOMES AS INHERITANCE PROPERTIES

Abstract

Singapore’s rapid rise, coupled with an increasingly ageing population has resulted in a unique situation in which not only is the nation facing its first ever batch of inheritances from the Pioneer Generation, but also has to deal with the complications of the policies and programmes that led to today’s success, such as the public housing schemes. Having identified a subject of interest in inheritance issues, there was a further lack of research found in the area pertaining to the decision making behind inheritance. It would therefore be meaningful to investigate the factors behind the choice to bequeath one’s home. The research framework in this paper adopts a two part sequential exploratory mixed method approach to acquire firstly a general feel of the trends involving homeownership transfer and secondly an in-depth look at the factors that which influence the choice to bequeath. It was found that there is an increasing intention to bequeath with age, and while factors regarding bequeathing are similar to homeownership choice, the weightage for each factor is significantly different. The findings also suggest a relationship between the lack of homeownership rates and intention to bequeath, implying that there might be some concern over housing affordability in Singapore. Policymakers may use these findings in better understanding the complex factors behind inheritances to better adjust the market and maintain affordability.