Often in life, it’s not about how long you live but about the meaning of life and living it to the fullest on a day to day basis. Singapore, being a “Red Dot” in the world map may be one of the smallest countries in Asia, but it came in one of the top few places to live in Asia with that high quality of life.
According to Global Human Resource Consultancy Mercer, Singapore come in Top City to live in Asia in terms of “Quality of Living” and also “Happiest country in South-East Asia” from World Happiness Report 2018.
Different people may share different values, cultures, thoughts, and spiritual well-being. But being in Singapore where there are multi-races, multi-religion, multi-nationality, Singapore has all the while used to embracing each other culture, belief, and religion and able to live in harmony despite so many religions and races in Singapore.
Stages in Life
Quality of Life is measured by one own happiness. There are multiple factors that affect this quality of life such as personal net worth and personal belief, and also external factors such as political and economic environment factors, etc.
Still, each of these belief and values change over time. Things that make you happy when you are young differ greatly when you are an adult versus an elderly.
Be it any stage in life, most important is still one health, wealth, and family well-being.
Different Stages in Life
Childhood. Childhood start all the way from birth to childhood to early adulthood. Still, one quality of life, values, happiness differs greatly over time. In childhood, got milk to drink, got people to play with, smile will often appear on a baby’s face. In Childhood, now seems an apple iphone and games seem to bring that smile to kids in childhood. In teenagers, holding latest gadget, mixing with friends with common interest seems to form that happiness.
Generally, during childhood, it’s about been happy and education without much consideration to politics, economic, global events nor even bread and butter.
Adulthood. As one reaches adulthood, the focus will be on career and setting up a family. As Singapore’s cost of living is pretty high together with housing, both husband and wife often find they both have to work in order to sustain their lifestyle and paying their property mortgage loan. Singapore’s land prices have risen steadily together with inflation that brings up property prices too in Singapore.
Newlywed couple looking at a good location such as Tiong Bahru, Toa Payoh can expect to pay from $500k to $700k+ for a HDB BTO.
As a newlywed couple start their family, one has to think on a long term basis, planning for kids study, planning for ownself financial freedom so as not to burden their kids next time and the best part, to leave
Elderly. When one reaches the retirement stage, the best thing is to be financially free and have some passive income as often, one will experience rise in medical bills due to “Wear and Tears” or other medical conditions. Most importantly, when one passed away, leave something valuable for your love ones.
Happiness for the elderly often is seeing their children setting up families and visiting them for a meal in which most Singaporean often gather together for a meal with their parents like once a week.
Considerations that Impact Quality of Life from External Forces
Political and Social Environment
With the rise of infrastructure and technology, political and social environments nowadays don’t encompass only within the country within a global scale. The global environment is challenging both in the short and long terms with new events such as Covid-19 that provide a very good example that see Singapore goes into Circuit Breaker mode for about 2 months.
The key challenges therefore, are the ability to be able adapt and change in this rapidly changing society. On top of that, the Singapore population is also aging rapidly with not much population increase as more families choose either not to have children of just 1-2 children. This may be due to the high cost of living in Singapore, stress from work with breadwinners getting more career-minded, and also change in mindset as more ladies hold top positions in the corporate world. The days are gone where women need to stay home after marriage and give birth, taking care of babies. The high cost of housing can be a reason that contributes to this as the high cost of housing often required both husband and wife to work to sustain the house and lifestyle.
Still, as the Singapore economy is highly dependent on trade, it is volatile as it is subjected to challenges in the global environment. Singapore has to adopt a long term and targeted view to tackling challenges in economic so that be it short term or long term, Singapore can emerge stronger from all these challenges.
Singapore has all the while been able to attract big corporate and MNCs to invest and start their business in Singapore as it presents itself in the front end as an open business, corruption-free, and competitive environment. Some of the industries include finance centre, health care, bio-medical and even research and development (R&D) Hub.
Singapore’s knowledge-based economy, world-class infrastructure, social stability, and open trade policies are the few reasons why foreign investors and corporate head to start these businesses and headquarters here. In fact, Singapore’s economy is on the most open in the world as ranked by The World Economic Forum.
From the report by Ernest & Young and Japan External Trade Organisation, Singapore was one of Asia’s preferred investment destinations for foreign companies. It benefits both parties in a win-win situation as foreign companies bring in the latest technology, capital while Singapore supplies manpower and talent staff as it focuses on training and also the influx of foreign talent.
Singapore port is also on one the busiest port in the world due to its strategic location as ships from China pass Singapore and Straits of Malacca to head to the US, Europe, and other parts of the world.
Singapore emphasis much on education as it equipped the next generation individual with the necessary skillset in other to compete in this global environment. That is why Singapore schools maintain high standards of learning and teaching.
Singapore Management University (SMU), National University of Singapore (NUS) and Nanyang Technological Univerisity (NTU) are in the top 50 business schools globally, from ranking ing “Top 100 Global MBA” 2018.
Other than the 3 internationally recognized local universities, other renowned world-class institutions such as United World College, INSEAD, University of Chicago Graduate School have also put their footprint here in Singapore.
Singapore is well known for its world-class health infrastructure and technology in the healthcare industry as many foreigners flock in for their medical treatment. Foreigners love the “medical package” here as one can see doctor, go shopping, eat and stay hotel all within walking distance especially at Mount E Orchard.
Singaporean wise has one of the top levels of nutrition and health in Asia. On top of that, Singaporean has a “Medisave” account where they have to make a monthly contribution via his Central Provident Fund (CPF) account. This helps in paying for medical expenses when needed.
Singapore government on its end provides affordable and good health care and subsidizes medical services at polyclinics and public hospitals.
There are 2 main categories of housing in Singapore namely public housing – HDB and private housing that include condominium and landed property. Choice of which often, depends on one budget, lifestyle, preferred location and long-term planning.
HDB is more for local Singaporeans, though it is open for Singapore Permanent Residents (PR) too. It is considered a Subsidised flat together with an executive condo.
Private condominiums, on the other hand, are build by private developers and sold via developer. These condominiums are of higher price tag and come with condo facilities such as swimming pools, gym, tennis court etc. A condominium can be purchase by anybody include foreigners. There’s no restriction of foreigners’ purchase on a condominium. Just that they have to pay the Additional Buyer Stamp Duty (ABSD).
For a dream home, other than quality finishes and branded electrical appliances, one has to consider the serenity of the location as well. Rmyden 77 being located at Telok Kurau put this development in a low rise landed enclave with a river that is connected with park connector to East Coast Park. Residents who appreciate the quality of life, the quietness and serenity of Telok Kurau will love this development.