The Business Times
Published June 21, 2005
By ALEXANDRA HO
BISHAN New Town, where flats used to fetch eye-popping resale prices during the property boom, has the richest HDB residents. But new towns such as Punggol and Sengkang, which were hardly around in 1998, are fast catching up, according to HDB's latest Sample Household Survey.
The five-yearly survey - the most recent was in 2003 - found that Bishan residents lead the wealth stakes with an average monthly household income of $5,891. Next come Pasir Ris residents, with $5,782. It then swings to the north-eastern HDB towns of Punggol ($5,256) and Sengkang ($5,025), with more young professionals with higher education levels and income setting up homes there. Rounding up the top five is another new town, Sembawang, with an average monthly household income of $4,696.
As for the highest monthly household income by flat type, executive HDB flat owners are right at the top with 20.3 per cent of them having monthly household income of $10,000 and more. That's almost a 5 per cent rise from 1998's figures. As for five-roomers, 10.4 per cent of them make $10,000 and above, roughly a 4 per cent increase.
The survey also found that more people living in HDB flats are owning them. Ownership of HDB flats reaches 97.1 per cent, from 95.2 per cent in 1998.
That tallies with the Department of Statistics' Household Expenditure Survey, which found that housing costs have replaced food as the largest household expenditure.
It could also have something to do with the rise in average monthly household income. From $3,719 in 1998, this had risen to $4,238 in 2003. Those living in bigger flat types actually reported a higher increase in their household income compared with those in one- and two-room flats, who actually saw a slight dip.
The number who live in government-subsidised flats in 2003 grows by 5.2 per cent to 2.84 million people. This accounts for 84 per cent of all Singaporeans. Most HDB flat owners tend to live in four-room flats - close to 40 per cent, or 312,529 households.
HDB also found a rising standard of living among residents, with more people owning consumer goods. For instance, ownership of DVD/ VCD/ VCR players has grown to 81.4 per cent, from 74 per cent, air-conditioners to 70 per cent from 57.6 per cent, and computers to 68.6 per cent from 49.3 per cent, with more than half of the households having internet access.
Household sizes continue to get smaller. An average household has 3.5 persons - a fall from 3.7 persons in 1998, which is, in turn, a fall from 6.2 persons in 1968, when the survey was first done.
The small households are concentrated in new towns, such as Punggol, and mature towns like Queenstown. Towns of intermediate age, for example, Choa Chu Kang, seem to escape that phenomenon.
Just like the general population, the ageing of HDB residents seems inevitable. In 2003, 7.6 per cent of HDB residents were elderly residents, while it was 7.2 per cent in 1998.
As Singapore continues to face a land crunch, HDB residents seem prepared to live in taller blocks of 40-storeys and above, with 31.9 per cent answering in the affirmative. HDB also found that the younger set are more receptive to the idea. Household income is another factor, with those earning more being more willing to live in taller blocks. Most say they would do so because of the good view and that it would be breezier.
Those households who said they intend to move in the next five years fell to 18.6 per cent from 35.7 per cent in the last survey. The age group that's the most likely to make changes - either through upgrading, downgrading or making a lateral move - are those between the ages of 35 and 39. As for the general HDB population, 65.5 per cent of those who made a change in residence did so to upgrade.
And despite the economic downturns in the last few years, more HDB residents said they are satisfied with their lives - 93.4 per cent, higher than the 89.1 per cent who said the same in 1998. 91 per cent also perceived themselves as middle class and above.
The HDB survey is done once every five years. So far, eight surveys have been done since 1968. In the 2003 survey, 7,300 households were involved.
Oh, I live in the 'poorest' town... which, ironically, is just next to the 'richest' town...
