In an earlier post on Properties, I mentioned that it was not ideal to hold properties in Singapore in the long run, mainly because of the rapidly ageing population demographics. In that analysis, I had omitted the effects of migration and new housing supply, which could not be forecast with any certainty then. With the release of the Population White Paper and the Land Use Plan, we now have greater clarity in the migration numbers and new housing supply. How would the analysis change when these factors are included? Let us recap these numbers first.

In the Population White Paper, it was mentioned that the number of new citizens would increase by between 15,000 and 25,000 a year. As for the Permanent Resident (PR) population, it will remain stable at between 0.5 and 0.6 million and forms a pool for potential new citizens. Hence, any increase ...