POSSIBILITIES OF REAL ESTATE DEVELOPMENTS TO MEET AGEING POPULATION IN SINGAPORE

Abstract

The Singapore Government recognises the prevalent ageing population issues and has been putting in major efforts to solve pressing problems. An increasing number of Elderly Friendly Implementations and programmes have been put in place in hopes of catering to the needs of the ageing population. Such programmes are mostly fully funded or at least at a highly subsidised cost. However, are these implementations really necessary and do they really cater to the needs of the ageing population? This dissertation aims to answer the question with the analysis of literature and surveys. The survey questionnaires assist in examining the true demand of the people in Singapore by collecting their opinions on Elderly Friendly Implementations. The survey aims to find out the level of awareness, acceptance and willingness of the people towards Elderly Friendly Implementations. After analysing the data, it was found that 86% of the respondents are accepting of staying in homes and towns with Elderly Friendly Implementations. Even if these implementations were to come at a price of 10% of housing prices, 55% of respondents were still willing to stay in homes and towns with Elderly Friendly Implementations. This shows that there is a true demand for Elderly Friendly Implementations amongst Singaporeans. Most respondents preferred implementations that can promote safety and active ageing. With the responses from respondents, the Government and developers can understand the actual needs and preferences of the people and cater more suitable implementations in future developments. For this paper, Elderly Friendly Implementations used would refer to all possible types of real estate developments, features and facilities to meet ageing population needs.