Colliers recommends development of "retirement village" for senior citizens

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#1
Colliers recommends development of "retirement village" for senior citizens
By Kristie Neo | Posted: 26 December 2012 2021 hrs

SINGAPORE : Property consultancy firm Colliers International has recommended the development of a "retirement village" for the growing population of senior citizens in Singapore.

It has also suggested that a ratio/quota system be implemented to allocate Build-to-Order (BTO) flats to singles.

Colliers said these are two groups within the larger population that have become significantly prominent over the last 12 years. And they will play an important part in the housing market going forward.

These findings and recommendations are part of a White Paper - called the Minority Report - released by Colliers on Wednesday.

In the report, Colliers pointed out that Singapore's total population has increased by 31.8 per cent to reach 5.31 million in 2012 from 4.03 million in 2000.

It then details significant increases in the number of senior citizens and singles in recent years.

For instance, Colliers said the government projects the proportion of residents aged 65 years and above to account for some 15 per cent of the population - or 600,000 residents - by 2020.

It added that by another 10 years, the population of seniors will increase to 960,000 or 20 per cent of the population.

Similarly, the number of one-person households has expanded by 85.5 per cent from 75,400 in 2000 to 139,900 in 2010.

This number excludes the singles staying with families, as well as households with no family nucleus (singles staying with other singles).

To cater to senior citizens, Colliers has recommended the development of a retirement village by the government and developers.

It added that the government could consider awarding sites on longer tenures - 99-year tenure or even longer tenures of 120 years or 150 years - for the development of a retirement village.

This will allow the developer to create a good quality product that caters to the elderly.

The developer can then sell the retirement village units to senior citizens on 15-year, 20-year and 30-year options, for which the units will revert back to the developer to re-sell to another set of retirees.

Colliers explained: "In this way, the economic lifespan of the retirement village units can be renewed over a longer period of time and the developer will be able to generate a reasonable return on the shorter leases."

To address the growing population of singles, Colliers has recommended a ratio/quota system.

This will be based on a "suitable proportion that the government deems healthy" in the make-up of a typical residential block.

Colliers added that the Housing and Development Board (HDB) could also consider building studio apartments for singles, or "a shoebox HDB flat" qualified for singles during a BTO application exercise.

- CNA/ms

http://www.channelnewsasia.com/stories/s...81/1/.html
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#2
(27-12-2012, 09:45 AM)Boon Wrote: These findings and recommendations are part of a White Paper - called the Minority Report - released by Colliers on Wednesday.

A Tom Cruise movie - not a very original title for a paper eh? Tongue

On a serious note, I think perhaps we could designate one of the offshore islands for this retirement village? There is much more greenery over there and perhaps a chicken or two - like the old kampung days. Big Grin
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#3
Iskandar is the natural target for Singaporean retirement village. Question is whether mutual benefit will triumph politics and local resentment.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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#4
(27-12-2012, 11:22 AM)specuvestor Wrote: Iskandar is the natural target for Singaporean retirement village. Question is whether mutual benefit will triumph politics and local resentment.
The govt better think twice about promoting Iskandar as retirement place for old Sporeans. Because if me and wife retire there, i will want my son to serve NS to defend Iskandar, not Spore.
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#5
you all can go iskandar eat mee rubus I will go eat tomyum in bkk lah Tongue
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#6
Aiya, sound like got big idea and out of box plan this so called 'white paper' no substance lah 10 yrs when my kakies drink coffee at geylang we already have spoken abt it...gate community, tpt, gym, nurses, massage, etc.

While Peter lim buy the idea but location not right....not only security problem but there are many unforeseen rules & regulations that not favour non muslim retiree.

If I had the fund like peter lim, i will choose 'tomyan' not at Bkk but at Chiang mai...not only she a buddhist country, cost of living below JB. .cool weather..good infrastucture, high speed wifi, cheap massage, studio rent abt 30 m2 aro 2500 THB per mth, 2 yrs old honda scoopy only S$1000, many ang moh already migrated there, foregner can buy condo but not land unless under a thai nominee....
Well, like any country foreigner if want to develop 'retirement village' the company must pattern with a thai in 49/51 share favour the thai, i think this rule apply to iskander too.

Some said china but to me she not in my wishlist..Why leh? hehe money will vapourise very fast...cos many vacuum sucker out there...imho only not to offense my ancestor.

Aiya, sound like got big idea and out of box plan this so called 'white paper' no substance lah 10 yrs when my kakies drink coffee at geylang we already have spoken abt it...gate community, tpt, gym, nurses, massage, etc.

While Peter lim buy the idea but location not right....not only security problem but there are many unforeseen rules & regulations that not favour non muslim retiree.

If I had the fund like peter lim, i will choose 'tomyan' not at Bkk but at Chiang mai...not only she a buddhist country, cost of living below JB. .cool weather..good infrastucture, high speed wifi, cheap massage, studio rent abt 30 m2 aro 2500 THB per mth, condo w/o swimming pool studio size abt 28 sq m cost aro S$18000, a 2 yrs old honda scoopy only S$1000, many ang moh already migrated there, foregner can buy condo but not land unless under a thai nominee....

Well, like any country foreigner if want to develop 'retirement village' the company must pattern with a thai in 49/51 share favour the thai, i think this rule apply to iskander too.

Some said china but to me she not in my wishlist..Why leh? hehe money will vapourise very fast...cos many vacuum sucker out there...imho only not to offense my ancestor.
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#7
Peter Lim is in Iskandar NOT for retirement, BUT for YIELD!!!

He never needs to retire!! Big Grin money never sleeps!!
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
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#8
(27-12-2012, 12:55 PM)Bibi Wrote:
(27-12-2012, 11:22 AM)specuvestor Wrote: Iskandar is the natural target for Singaporean retirement village. Question is whether mutual benefit will triumph politics and local resentment.
The govt better think twice about promoting Iskandar as retirement place for old Sporeans. Because if me and wife retire there, i will want my son to serve NS to defend Iskandar, not Spore.

I was told decades ago when I was in NS and during the ASEAN domino theory that our defence line is actually Johor in the event of invasion from the north. By the time it reaches our shores it would be too late. Make sense.

Iskandar is better than other localities because of proximity to our circle, and relative ease of commute.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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#9
chiang mai is good but I prefer living in cities more for the amenities easy to get around but in tomyum foreigner cannot buy any land or house. Unless with a nominee ie marry their locals but even then the property is under the spouse name, if the spouse run away with a pretty boy jialat. Big Grin

So just rent a place will do, bkk more expensive but ard 8500 bhat can get a very nice studio condo apartment in a classy location with security some with swimming pool facilities near to mrt or skytrain shopping malls all very convienient.

8500 div 23 thats S$369

today median rental for HDB 3 room is 2.4k - 2.7k
2.7k x 23 = 62,000 bhat.

On average a western foreigner who goes to bkk to teach english gets a salary of around 35k bhat a month so 62k bhat is more than enough to live pretty good life in bkk.
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#10
(27-12-2012, 03:35 PM)brattzz Wrote: Peter Lim is in Iskandar NOT for retirement, BUT for YIELD!!!

He never needs to retire!! Big Grin money never sleeps!!
Maybe he know something about ringgit that we don't as he is going to change a lot of his S$ to Ringgit.
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