6.9m Population by 2030 - Good or Bad for Property?

By Mr. Propwise

There’s been so much talk (and hype) about the Government’s recently released Population White Paper and Land Use Plan to support up to a 6.9 million population in 2030, but I think at the end of the day most people are still confused about one key question – is the long term growth plan for Singapore’s population and the related land use plans good or bad for property prices?

A quick recap of the population growth plan

Singapore had 3.29 million citizens and 0.53 million Permanent Residents (PRs) as at June 2012, which together make up the resident population. We also had a non-resident population (including domestic workers, foreign talent, students etc) of 1.49 million, giving a total population of 5.31 million.

Singapore’s total population in 2020 is projected to be between 5.8 and 6 million, while by 2030, the total …