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SINGAPORE — Jeffrey, a 26-year-old software engineer, thought he had his adult life sorted when he moved into a stylish one-bedroom condo near Somerset last July. He enjoyed the independence of cooking his own meals, hosting friends, and no longer having to endure the long commute from his parents' home in Simei to his job in Orchard. Paying S$3,200 a month in rent seemed manageable.

However, after being laid off in May this year, Jeffrey, who preferred not to disclose his last name, found himself returning to his parents' home. "I realized that moving back was the smarter choice to save for my future home," he explained.

Jeffrey is part of a growing group of young Singaporeans who have moved back in with their families as rising rental costs and economic challenges push them to reconsider the price of living independently. The practice of renting, which diverges from the typical Singaporean journey of graduating, securing a job, getting married, and purchasing a Build-to-Order (BTO) flat, became more popular during the pandemic. Many single professionals, suddenly required to work from home, yearned for more privacy and personal space.

TODAY examines why young adults in space-constrained Singapore have such a strong desire for independent living and how this trend could evolve in the coming year. The surge in demand for rentals, combined with a limited supply of condominiums during the pandemic, drove rental prices to unprecedented levels. Data from the Urban Redevelopment Authority indicates that Singapore’s rental price index soared by 55% between the end of 2020 and the close of 2023.

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In conclusion, the rising trend of young Singaporeans moving out to rent, fueled by a desire for privacy and independence, faces increasing pressure from economic uncertainties and skyrocketing rental prices. While the pandemic spurred a shift toward independent living, many are now rethinking the cost of autonomy, with some choosing to return to their family homes to save for the future. As rental demand remains high and supply tight, it remains to be seen how this pattern will evolve, but financial considerations are likely to play a key role in shaping housing decisions for young adults in the coming years.