Singapore Population Increases To 5.31 Million.

The tiny island state of Singapore is seeing a population boom. It now holds 5.31 million people.

Singapore (I-Newswire) October 10, 2012 - Singapore’s population rises to 5.31 million. The population growth coming from 100,000 more foreign workers, families and students coming to Singapore over the past year. Population growth rate now back to about 2.5 per cent, a trend that will certainly raise concerns about overcrowding.

The Singapore government has attributed the rise in more foreign workers to the tight labour market. With 25,000 to 38,000 jobs added to the labour market every three months, employers have little choice but to bring in more foreign workers to fill the gaps.

Foreigners now make up 28 per cent of the population, numbering about 1.49 million in June 2012. The Singapore government has issued about 15,777 citizenship and 27,251 permanent residencies in 2011. Citizen numbers rose by 27,900 over the past year to hit 3.29 million in June 2012.

At this rate of population growth, of about 2.5 per cent, Singapore’s total population will hit six million in about 5 years’ time. About a week ago, Singapore’s Prime Minister Lee Hsien Loong said at a forum that a population of six million for Singapore should not be a problem.

The continued rise in population will add pressures to the transport and housing infrastructure. Singaporeans are already looking a more overcrowding in public transport and rising property prices from the inflow of new citizens, PRs and foreign workers. These rising numbers present opportunities for property investors looking to cash in on the demand for Singapore property here.

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