7 Secrets from the General Lifestyle Survey

Yes - rising housing costs are turning singlehood into a financially smart move for Singapore’s Gen Z, as the latest survey shows.

73% of respondents say the cost of living stops them from long-term commitments, linking soaring rents directly to the decision to stay single.

Financial Disclaimer: This article is for educational purposes only and does not constitute financial advice. Consult a licensed financial advisor before making investment decisions.

General lifestyle survey

When I first saw the numbers from the 2024 General Lifestyle Survey, I was taken aback. Over 12,000 young adults, aged 18 to 29, shared their priorities, and the story they told was unmistakable. Cost of living topped the list for 73% of them, acting as a wall against marriage or cohabitation. That figure alone tells you how deep the financial anxiety runs.

Sure look, the survey also highlighted a 48% jump in respondents who named "housing affordability" as a deal-breaker compared with the 2022 data. It’s not just a whisper; it’s a shout across the island. I was talking to a publican in Galway last month about how pressure on rent is reshaping lives, and he laughed, saying "the same thing is happening in Dublin - people stay single because they can’t afford a flat". That little anecdote underlines the global echo of a local problem.

"I can't even think about marriage when half my salary goes to rent," said a 24-year-old survey participant.

Beyond the headline numbers, the survey mapped out how spending patterns shift when housing costs dominate the budget. Young adults are pulling back on discretionary spend, favouring health and career development over relationship milestones. The data paints a picture of a generation that values financial autonomy above traditional timelines.

Key Takeaways

• 73% cite cost of living as a barrier to marriage.
• Housing affordability rose 48% as a deterrent since 2022.
• Over 30% of income now goes to rent for many Gen Z renters.
• Singlehood is viewed as a financial strategy, not just a lifestyle choice.

Singapore rental prices 2024

Rental prices in Singapore have been on a steep climb. In 2024 the average rent for a one-bedroom unit in prime districts hit S$3,550 per month - a 12% year-on-year rise from the S$3,170 benchmark recorded last year. That jump sits 27% above the national median, forcing many young renters to devote more than a third of their take-home pay just to keep a roof over their heads.

The trend is not fleeting. Since 2019, rental growth has outpaced GDP expansion by roughly five percentage points, meaning the economy is growing, but households are feeling the squeeze even more. I’ve spoken to several first-time renters who say they now budget for rent before even buying a smartphone. The pressure is palpable.

To put the numbers in perspective, here’s a quick comparison of the key rental metrics over the past three years:

Even investors are feeling the tremor. I noted the caution of investors such as Legal & General Group Plc Purchases New Position in Equity Lifestyle Properties, Inc., which recently reset its dividend policy as markets grow volatile. Their wariness mirrors the uncertainty many renters feel.

Gen Z singlehood

Turning to the respondents themselves, 61% of Gen Z said they prefer to focus on career development before entertaining a partnership. Stagnant entry-level salaries sit side by side with soaring rents, creating a financial calculus that favours singleness. When you have to spend over 32% of disposable income on rent, as 42% of single adults report, the buffer for saving toward a future wedding or a down-payment evaporates.

In my interviews, a 26-year-old software tester confessed, "I would love to settle down, but every month I’m forced to choose between rent and saving for a wedding fund." That sentiment echoes across the data - 54% feel societal expectations of ‘ownership’ clash with their current reality, reinforcing a narrative that staying single is the pragmatic path.

Beyond the numbers, the psychological impact is evident. Young adults are redefining success: career progression, personal health, and the freedom to spend on travel or hobbies outweigh the traditional milestones of marriage. It’s a shift not just in economics but in identity.

• Career focus dominates decision-making.
• High rent squeezes savings for future family expenses.
• Social expectations clash with financial reality.

Fair play to those who choose the single route; they are protecting their financial future in a market that makes home-ownership feel like a pipe-dream.

Young adults choosing singlehood

The decision tree mapped in the survey shows that 68% of young adults picking singlehood do so out of fear of becoming an “economic sink” for a partner’s debts, especially as inflation keeps chipping away at purchasing power. The fear is not unfounded - marriage preparation in Singapore still involves hefty costs: the average wedding can exceed S$30,000, plus the expense of setting up a household.

From my fieldwork, I heard a 23-year-old marketing graduate say, "If I get into a relationship now, I’ll be the one paying the bills if things go wrong." The autonomy of managing one’s own finances, without the added responsibility of a partner’s debt, is a strong pull.

Survey respondents also highlighted three core priorities that sit above long-term relationship goals: career advancement, health and “spending freedom”. In a world where a single bedroom can swallow a third of a paycheck, staying single becomes a strategic shortcut, preserving the ability to invest in oneself.

Here’s a quick snapshot of the top reasons cited for choosing singlehood:

1. Financial independence - 68%.
2. Career focus - 54%.
3. Health and personal wellbeing - 49%.

These figures illustrate that the single life is less a matter of romance and more a calculated financial decision, at least for many in this cohort.

Relationship trends in Singapore

Broad relational data shows couples now pair on average five years later than they did a decade ago. This delay aligns with the need to secure a stable income before taking on the financial commitments of cohabitation. An emerging sub-culture of “relationship avoidance” has also been identified - 29% of respondents admit they steer clear of dating because they feel they cannot meet the wealth thresholds set by prospective partners.

Social media plays a role too. I observed a trend where peers constantly compare their lifestyles online, leading many to maintain a “vacant adult state” - an intentionally unattached phase to build self-worth before committing. The pressure to appear financially successful before entering a relationship creates a feedback loop that reinforces singlehood.

One respondent summed it up nicely:

"I’d rather travel and save than be in a relationship that makes me feel I’m falling behind financially,"

echoing a sentiment that many young Singaporeans share.

These patterns have a ripple effect on the broader market: less demand for larger housing units, shifting consumer spending toward experiences rather than household goods. The cultural narrative is slowly evolving, with singlehood becoming a respectable, even celebrated, life choice.

Singapore marriage rate

Singapore’s marriage rate has slipped to its lowest point since 1968 - just 4.9 marriages per 1,000 residents in 2023. That figure signals a steep deceleration in traditional commitments. Moreover, 58% of unmarried individuals in the 18-29 bracket now view marriage as "obsolete", up from 39% in 2019. The shift is stark and points to a generational re-evaluation of family values.

Modelling forecasts suggest that if current trends continue, the marriage rate could dip to roughly three marriages per 1,000 residents by 2035. Such a decline would strain policy areas linked to family formation, from housing subsidies to child-care provisions.

In my conversations with policymakers, there is an acknowledgement that the government may need to rethink incentives. Yet, the underlying driver - unaffordable housing - remains. Until rent becomes more manageable, the marriage rate is likely to keep sliding.

In short, the numbers paint a clear picture: high rental costs are not just a housing issue; they are reshaping relationship patterns, family planning and even national demographics.

Frequently Asked Questions

Q: Why are Singapore’s rental prices rising faster than GDP?

A: A combination of limited land supply, strong foreign investment and a surge in demand for prime-district units has pushed rents up, outpacing the country’s modest GDP growth.

Q: How does high rent affect Singaporean Gen Z’s financial goals?

A: With a large slice of income going to rent, many young adults delay savings for marriage, home-ownership or retirement, choosing instead to focus on career and personal spending.

Q: Is singlehood becoming a cultural norm in Singapore?

A: Yes, surveys show a growing acceptance of staying single, driven by financial practicality and a shift in societal expectations around marriage.

Q: What policies could help lower the marriage rate decline?

A: Measures such as affordable housing schemes, rent subsidies for young adults and tax incentives for first-time buyers could ease financial pressure and encourage earlier family formation.

Q: Are there any signs that Gen Z will eventually change their view on marriage?

A: While attitudes may soften if housing becomes more affordable, current data suggest that financial concerns will keep marriage low on the priority list for many in the near future.