http://www.straitstimes.com/archive/...hoice-20150419

Renting 'often a short-term choice'

Reasons for young couples renting include having to wait for new flats and desire for privacy, say experts

PUBLISHED ON APR 19, 2015

BY YEO SAM JO AND LOOK WOON WEI


Living with their parents may seem like a cheaper alternative for young couples than renting their own place.

However, the latest Housing Board figures show that 21 per cent of households under the age of 35 begin their married lives in rented homes - about the same number as those who live rent-free with their parents, relatives or friends.

Responding to the latest HDB Sample Household Survey, which polled about 7,800 households in 2013, young couples and housing experts told The Sunday Times that renting is often a temporary rather than permanent preference for this group.

The key reasons they choose to rent include waiting for their new flat to be ready, the desire for privacy and independence, and the rising marriage age.

"Young couples, especially newlyweds, value privacy," said sociologist Paulin Straughan. "If they can afford it, they'd rather rent first."

She added that over time, the expectation of a private space has become a norm.

Indeed, the same survey showed that close to 64 per cent of households regard privacy and security as an important part of making a home.

IT consultant Ken Ng, 32, and his fiancee intend to move out of their parents' homes and rent a place once they get married in July. They will then live there until their four-room Punggol unit is ready in 2017.

"I'd rather spend a bit of money, so it's just the two of us," said Mr Ng, who lives in Jurong.

He is considering renting a condominium studio apartment closer to his office in Ang Mo Kio.

"We don't need such a big place. It's easy to maintain and we can enjoy amenities such as the pool and gym," said Mr Ng.

Space constraints might also drive some to rent, said SLP International Property Consultants research head Nicholas Mak.

"Housing units are getting smaller, compared with 15, 20 years ago," he said.

Mr Mak added that as more couples tie the knot at a later age, they are usually better able to rent.

"Many older couples are financially more confident and may feel it's affordable."

In 2013, the overall median age of grooms and brides in Singapore was 31 and 29 respectively. This was up from 30 and 27 in 2003.

The rising marriage age also discourages cohabiting with in-laws, noted Dr Straughan.

"When you're that old, it's hard to adjust to live under the same roof with someone else's parents," she explained, adding that a lot depends on the family relationship. "If the foundation is strong, it won't feel as awkward."

For delivery driver Zhao Li Bo, 32, renting a five-roomer in Ang Mo Kio with his wife and three-year-old son is their way of being independent while waiting for their Build-to-Order flat, which will be ready in 2017.

"We have our own family now. To rent, in a way, is a fresh start for us," said the Singapore permanent resident, who is renting under HDB's Parenthood Provisional Housing Scheme for about $1,700 each month. Under the programme, flats can be rented by families who are waiting for their new homes to be completed.

Mr Mak believes renting among young couples is not a permanent shift away from home ownership.

Noting that housing has been made more affordable with HDB subsidies and the option to draw from the Central Provident Fund accounts, he said: "The desire to own one's home is still very strong."

[email protected]

[email protected]