Real estate woes top Singaporeans’ retirement worries

Do you see yourself putting a premium on the same investment?

In a survey by integrated financial services provider Allianz Group, it was found out that Singaporean retirees prioritize real estate, life insurances and fixed annuities in preparation for their retirement. The 50+ Generation in Hong Kong, Singapore, South Korea and Taiwan tends to be quite conservative, with real estate topping the list followed by deposit accounts, life insurances, fixed annuities and precious metals, it said.

They also said that the Asian Tigers’ preference for real estate is mirrored in another result of the survey. Of respondents, 97% own real estate for their personal use and around 20% for investment purposes.

“Savings patterns, however, are not uniform across the four markets. Lifestyle funds, lifecycle / targe date funds and bonds are very popular in Hong Kong, while real estate, deposit accounts and insurance solutions are the financial instruments of choice in Singapore, South Korea and Taiwan,” Allianz research said.

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