The rate of family formation driven by singles has risen and turned to more skilled foreign workers.It is estimated that by 2030, one-fifth of Singapore ’s households will be occupied by one person, compared with one-eighth in 2010.In addition, it expects “a combination of bequest motivation, lease repurchase programs, and changing manpower trends to ease the pressure on the real estate market as the population ages.”It also estimates that Singapore ’s mid-term economic growth potential from 2016 to 2030 is about 3%, which means it will surpass other advanced economies and support income growth.
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