SINGAPORE: Co-living is emerging as a new housing option for young adults seeking independence before marriage or owning their first home, but it is unlikely to shift Singapore’s longstanding policy and emphasis on home ownership for now, said observers.It reflects how young Singaporeans’ housing goals are changing as they marry later and seek greater flexibility in the transition to adulthood while affordability remains a major consideration, they added.This follows the announcement of a co-living pilot under the SG Youth Plan last month, with two operators setting aside over 100 units for Singaporean youths aged 21 to 35 at discounted rates.As of Aug 12, more than 600 people have expressed interest in the initiative, said a Ministry of Culture, Community and Youth spokesperson.
The majority are single youths, with the most commonly cited reason being the desire for more personal space and the opportunity to experience living independently.While it may be an additional rung on the housing ladder – between living with parents and buying a home – observers cautioned against seeing the pilot as a fundamental shift in Singapore’s national housing policy.At the launch of Mber co-living and serviced apartments earlier this month, National Development Minister Chee Hong Tat said that household structures and housing aspirations have evolved as society becomes more diverse.“While homeownership remains a key tenet of Singapore’s social compact, we recognise that there is also demand for flexible accommodation options, such as by younger Singaporeans who are looking to rent initially before buying their own homes,” he said.“Now, let me be clear, we still want to encourage home ownership. That is still a very key part of our social compact.”
