Can a 20-something afford to rent discounted co-living spaces?

Under the SG Youth Plan launched in July, two private operators have set aside more than 100 co-living rooms for Singaporeans aged 21 to 35, offering discounted monthly rental rates starting from S$1,800 to S$2,000, depending on the property. With more than 600 people expressing interest in the units, there’s clearly a demand for such housing options among young Singaporeans. But just how affordable are these rates? Property analyst Dr Lee Nai Jia recommends spending no more than 30 per cent of your monthly salary on rent. This means you would need to earn at least three to five times your monthly rental to comfortably afford it. But for a 21-year-old fresh graduate who is still job hunting or just starting out in their career, is paying S$1,800 to S$2,000 a month in rent really affordable? For more on this discussion of young Singaporeans moving out and renting their own spaces, watch the Deep Dive podcast. Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia