Demand for this specialty has grown significantly as a result of recent corporate scandals (PDOs). By 2020, 87,800 applications have been made for BDO homes. By comparison, 51,400 BDO applications were made in 2019 and 38,500 in 2018.
Viva said in a statement yesterday that the increase in demand was due to the increase in marriage, family formation and the declining number of generations living together.
However, the BDO houses did not come up for sale to meet the demand. The gap between the number of homes ready for sale and the demand has widened over the past three years.
In particular, 16,800 BDO homes were put up for sale last year. In 2016, 14,600 homes were sold and in 2018, 15,800 homes were put up for sale.
Demand for this specialty has grown significantly as a result of recent corporate scandals.
Viveka said the increase in demand was due to marriages and family formation.
According to the 2020 census, the number of people getting married last year was more than 977,000. In 2010 this number was over 880,000.
The average annual number of Singaporean marriages increased from 22,400 between 2010 and 2014 to 23,600 between 2015 and 2019.
In addition, social practices have increased the need for change in preferences.
More and more young couples, single and elderly people with adult children, want to have their own home. The result is that small families are on the rise. It said support for buying a single-family home has increased.
But National Development Minister Desmond Lee said the emphasis would be on families as more accommodation was needed.
At the same time, singles accounted for six per cent of the total PDO applications in the last three years. Also, from September 2019, the monthly family income ceiling for eligible families has been raised from $ 12,000 to $ 14,000 and for singles from $ 6,000 to $ 7,000.
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