October 3, 2022

‘Finding the right-size home in your silver years’ (The Straits Times, September 2022) features Associate Professor Thang Leng Leng (NUS Japanese Studies), Associate Professor Feng Qiushi (NUS Sociology and Anthropology), and their research on Singaporeans preparing for retirement.

In a 2015 study of HDB’s studio apartments, A/P Thang observed that some Singaporeans were selling their more spacious properties and moving to smaller flats. They viewed it as a form of financial planning to ensure that they had enough income during retirement.

While downsizing to a smaller property can be a sound financial strategy, it appears to go against the mainstream government approach that people should aim to age in place, meaning that the elderly should stay in their homes instead of going to nursing homes or residential care facilities. A/P Feng, however, asserts that the crucial thing is to age in the right place. Whether one’s previous place of residence is still suitable after their retirement depends on whether they are able to receive timely and appropriate caregiving and other services in a financially sustainable way. Given the elderly-friendly designs in new HDB flats, public housing may be an option to consider even for those staying in private properties.

Read the article here: https://www.straitstimes.com/opinion/finding-the-right-size-home-in-your-silver-years