And here's why retiring in Singapore won't be as easy as it was before.
From PropertyGuru: The opening of Downtown Line 3 in October this year, which passes through the MacPherson area, has once again put the spotlight on a small HDB estate at Circuit Road. Considered one of the oldest housing estates in Singapore, the chap lau (“10-storey” in Hokkien) flats were built in the 1960s and are home to many elderly residents and those living in rental flats. Although the HDB blocks were previously upgraded, the estate now looks old and shabby. Its strategic location near commercial and industrial clusters in Ubi, Paya Lebar and Tai Seng has led some to call for the area to be redeveloped to make better use of the land. Some analysts even think the flats could be picked for the Selective En bloc Redevelopment Scheme (SERS).
From CNBC via Yahoo!: Singapore's Changi Airport recently unveiled plans to open a mixed-use complex in 2019, promising a five-story indoor garden, among other attractions. The pressure is on to maintain the title of world's best airport -- in which it's held for the past five years -- as ranked by Skytrax's World Airport Awards. It's also considered the best airport to sleep by many reviews and bloggers. The airport's offerings and amenities are far and wide ranging from a free movie theater, outdoor swimming pool and butterfly garden featuring more than 1,000 insects ranging from 40 different specifies.
From Yahoo! Finance Singapore: The need to do this becomes all too clear when retirement age looms large. Singapore’s official retirement age is 62 years. It is a major crossroads in people’s lives and they potentially have to face one of several scenarios going forward. However, all scenarios would be underpinned by a single attribute: Have they saved enough to last the next 20 to 25 years? If they think they have saved enough, people will choose to retire. They will have to factor in the high cost of living in Singapore and the impact of inflation on the purchasing power of their savings, as well as having enough money set aside for unexpected expenses, especially unforeseen medical bills. If their savings are adequate, the decision about whether to work or not is in their own hands. That is a good place to be and is perhaps the result of making more good investments than bad ones through a lifetime, and also having a bit of luck at being around at the right time to catch positive economic cycles.
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