If Singapore’s first private luxury senior housing takes off, will more developers get in this space?

SINGAPORE – When Singapore’s first private assisted living home, Perennial Living, opens in the first quarter of 2026, its take-up rate will be closely watched by other developers looking to get into this space, as well as by seniors hoping for a more wallet-friendly version. The 200-apartment project in Parry Avenue comes with private lift access, sky terraces, a clubhouse with dining and lifestyle amenities, personal concierge services, and a rehabilitation, medical and wellness centre. Costing between $8,900 and $17,000 a month, depending on room type and required care, Perennial Living is aimed at well-heeled seniors over the age of 65.  If the luxury project is well-subscribed, more developers may pivot towards the fast-growing elderly demographic in Singapore. But given the high costs of acquiring land, as well as high construction and labour costs, developers will likely end up building high-end senior living facilities to cover costs and profit margins. All these costs are then passed on to seniors. That means that only a small and well-off segment of Singaporeans, permanent residents and foreigners will be able to afford premium eldercare services. But can there be more affordable private assisted living facilities with all the bells and whistles – from
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