[This is quite a bit late - a letter from June. Better publish it before the end of the year. What can I say? Getting old.]
Ku Swee Yong
June 10, 2016
I am not bringing up this subject because I see my hairline receding rapidly or because I need bifocals.
As highlighted in my latest book, Weathering a Property Downturn, if we took a snapshot of Singapore’s population tree in 2015 and assumed that the population was with us all the while (that is, no inward or outward migration), 400,000 residents celebrated their 60th birthdays between 2006 and 2015, and in the next 10-year period between 2016 and 2025, more than 600,000 residents will celebrate their 60th year on earth.
Our resident population in 2015 was 3.9 million, of which 700,000, or 18 per cent, were already over 60 years of age. If we froze the population based on the 2015 demographics and accounting for about 19,000 a year for residents who pass away, by the year 2025 at least 30 per cent of us will be older than 60. That equates to more than 1.1 million Singapore residents.
