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Growing population, govt’s decentralisation plans driving surge
Malls rentals likely to hold firm despite surge in supply
Malls have been springing up all over the suburbs but shoppers continue to be hungry for more.
Experts say the Government's decentralisation plans and demand from a growing population are underpinning this surge.
Citizen population up by 0.9 per cent to 3.31 million; continues to grow older. Total population reaches 5.4 million as at end-June, a rise of 1.6 % over the last year
SINGAPORE — The total population here grew over last year at its slowest pace since 2004, partly due to tightened foreign manpower policies and weaker economic conditions. A bright spot was the Total Fertility Rate (TFR) inching up to a five-year high, thanks to the “Dragon Year effect”.
As at end-June, Singapore’s total population stood at 5.4 million — a rise of 1.6 per cent over last year.
A RECORD surge in the supply of new homes is likely to trigger a drop in rents and prices by up to 15 per cent between now and 2016 amid tepid population growth, a report warned yesterday.
A total of 100,000 new private non-landed homes and 123,000 Housing Board homes are expected to be completed by 2017, said research house Religare.
This translates to a 7 to 8 per cent expansion in the yearly supply of new non-landed homes.
