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1 in 5 newlyweds choose to rent

PropertyGuru

About 21 percent of married couples below the age of 35 resided in rented homes shortly after they tied the knot, according to media reports citing the housing boards latest Sample Household Survey.

Based on the study which was conducted in 2013 and involved 7,800 households, this proportion is roughly similar to those who live with their relatives or friends without paying any rent.

The research showed that couples chose to lease mainly because they were still waiting for the completion of their new HDB flats, or their desire for privacy and independence.

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

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In fact, the same research revealed that privacy and security were key considerations for nearly 64 percent of the respondents.

Another trend that is driving rental activity among households is the rising marriage age in Singapore. In 2013, the median age of grooms and brides here rose to 31 and 29 respectively from 30 and 27 in 2003.

When youre that old, its hard to adjust to live under the same roof with someone else's parents, Straughan explained.

Furthermore, marrying at a later age means that the couples are more likely to have saved enough money to rent their own place.

Many older couples are financially more confident and may feel its affordable, said Nicholas Mak, research head at SLP International Property Consultants.

Although many households opted to rent in 2013, the desire to own ones home is still very strong among Singaporeans as housing has been made more affordable with HDB subsidies and the option to use ones Central Provident Fund account, he added.

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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