Historically elderly people without a big income in Singapore have been forced to retire in developments outside the city…
Sadly, they are quite isolated from family and friends out there. It’s a similar story in Australia in many cases.
However, a Singaporean architect has had a new stroke of inspiration.
It’s a for high density apartment complex in the middle the city called “Home Farm”
Not only will it comfortably house thousands of elderly citizens in a beautiful environment.
But it can also be self-sufficient from a food perspective. An important point, because Singapore imports 90% of its food.
Some Australians experts suggest we need these sort of living options in Australia.
Of course, currently, most Australians who down-size move into suburban homes or townhouses – with only 20% moving into apartments.
However, this may change over time due to affordability reasons.
That’s because people on lower retirement incomes need a range of different options available within a budget so they can find something that suits them.
This will be a huge challenge in years ahead, because of Australia’s aging population – 15% of our population is now over 65 years of age.
What’s interesting, is there’s incredible profits to be made in creating ‘”in-fill” medium density, affordable housing options.
This is when you put new dwellings in backyards etc. of existing suburbs – that already have infrastructure etc.
For example, here’s a before and after pic of a back yard development site that Nhan was able to fit a triplex in the backyard of!
Can you imagine the cashflow you would get from having a not one, not two, but three tenants in a dwelling that you put in a backyard????
If you want to learn how to create big chunks of equity and healthy cashflow from these sort of projects, then check out Nhan’s webinar tonight.