The pandemic has brought about many changes in Singapore, and it may be majorly impacting young adults’ ability to leave home. Singaporeans typically live with their parents until they are old enough to get married or to purchase their own apartment. But the recent generalisation of work from home (WFH) measures may be accelerating this process.
Recent news articles suggest that not everyone is enjoying WFH while being stuck with family members. This has pushed younger Singaporeans to seriously consider moving out and renting their own personal space.
This month we asked if it is ok for young adults to move out of their parents’ house before getting married (or being financially secure to purchase) and choose to rent a place – nearly three in four (73%) Singaporeans approve of this in principle. Amongst Gen Zers approval is at 88%.
In the context of WFH, approval is even higher amongst Singaporeans, at 79%.
When asked if the Government could do more to encourage younger people to move out and rent their own places, Singaporeans are far less enthusiastic – only 31% support the idea of offering a tax deduction for young adults who choose to leave the nest and rent their own place.
Another option canvassed in our survey was the idea of the Government allocating a certain number of rent-controlled apartments for youths looking to move out, Rent-control apartments are popular in large cities like New York. Nearly half (47%) of Singaporeans approve of this idea. More generally, the Government’s policy of singles having to reach the age of 35 before being allowed to buy a HDB flat is now opposed by just under half (48%) of all Gen Zers.
Author: Blackbox Research Team