I intend for this blog to be a compilation of news which I deem educational. :)
Friday, October 5, 2012
Consider building retirement condos
THE young of today will be the old of tomorrow. The problem of facilities for the elderly will become more and more pressing, so we have to plan ahead ("Singapore 'not ready' for ageing society"; last Thursday).
Now, Singaporeans live longer, and are healthier as well. Many have only one child or no children at all, and many are single or widowed.
There are a large number of people who are past their retirement age, but still healthy and active. These people want to enjoy an independent lifestyle, but need a conducive environment to do so.
This is where retirement condominiums geared towards retirees come in. These can have social and medical amenities nearby to enable seniors to live an active life on their own.
But unlike large countries, where retirement condos are in abundance, in Singapore, because of the high price of land, such condos are non-existent, and likely to be unaffordable.
The Government can fill this gap by allocating land leased cheaplto private developers solely for this purpose.