We did it guys, we made it to the end of another year! Our predictions for 2024 were pretty accurate last year and we’ve tapped our crystal ball once again to try and see what the new year holds (especially since it’s going to be Singapore’s 60th birthday!). Come join us for a game of bingo:
PM Wong plays guitar at the National Day Parade
Our new Prime Minister, Lawrence Wong isn’t just a policymaker. He’s a skilled guitarist too having wooed Singaporeans on multiple occasions with his skilful plucking. After his heartfelt rendition of Love Story on Teacher’s Day this year, here’s hoping he picks up his guitar again for a stripped-down acoustic take on a classic National Day favourite like Home. I know I’ll be singing along!
New SG60 mascot announced
Singapore loves its mascots. From Singa the Kindness Lion to Nila our sporting mascot, it’s likely that a new character will be introduced for SG60. My guess is an updated version of our Merlion mascot which was last updated in 2021. Or maybe it will be otters 🦦!
Further 2% increase in population
If Singapore feels busier on the streets these days, that’s because it is! Our total population grew by 2% in 2024, reaching 6.04 million1 according to the National Population and Talent Division. With Singapore building its status as a regional talent hub, we’re likely to see even more growth, especially in the non-resident population. Whether it’s the vibrant workforce or the buzzing city vibes, our island home is getting livelier by the year!
Drop in COE prices in Q1
A drop in prices is pretty much guaranteed to happen as the Land Transport Authority announced in October that it would add up to 20,000 COEs2 into the market in February 2025. While this might ease prices a bit, let’s be real - owning a car in Singapore is still going to cost a bomb. If you’re planning to go for it anyway, why not save where it counts? Get up to 32% off your car insurance with Singlife when you buy online.
In-N-Out opens an official store in SG
Singapore’s food scene keeps serving up wins, with international heavyweights like Egg Slut, Tim Hortons, and the return of A&W landing on our sunny island. But being the foodies that we are, our wish list is never-ending. American burger chain In-N-Out held a one-day pop-up in May this year and the crowd that turned up was WILD. People started queuing up from 3:30AM and all 500 burgers were sold out before the official opening time. With that kind of frenzy, it’s easy to dream about them setting up shop here permanently. Or if you’re into Japanese food like me, how amazing would it be to see an Ichiran outlet open here 🍜?
NUS reclaims top spot in Asian University Rankings
Singapore’s education system has always been top-notch, but it would be great to see the National University of Singapore (NUS) reclaim its spot as Asia’s No. 1 university. Ranked at the top from 2019 to 2022 by the Quacquarelli Symonds (QS) Asia University Rankings, NUS slipped to second in 2023 and third in 20243. While rising dormitory fees across all three universities in Singapore have added to the cost of studying here, a comeback by NUS would definitely spark some national pride and highlight the resilience of our world-class education system.
Singapore is voted happiest country in Asia again
Let’s keep living our best lives in 2025 and help Singapore hold onto its title as Asia’s happiest country for a third straight year4! But here’s the thing—there’s a gap between the World Happiness Report and the 2022 Quality of Life Survey, which found Singaporeans have become less happy since 2016. The key to closing that gap? Taking care of your personal well-being. From managing stress to planning your finances, every step counts toward building a long and happy life.
Team Singapore sets a new record at SEA games
Team Singapore made waves at the Paris Olympics this year, and here’s hoping the momentum carries through to the 2025 SEA Games. Back in 2023, we scored an impressive haul of 158 medals: 51 golds, 43 silvers, and 64 bronzes. Sprint queen Shanti Pereira stole the spotlight, smashing both her national and SEA Games records with a blazing 22.69s in the 200m sprint5. Personally, I’m excited for the return of badminton stars Terry and Jessica, who recently teamed up with Singlife to inspire the next generation through a youth badminton clinic. Watch the highlights of that event here 🏸.
More money lost to scams
Singaporeans lost S$385.6 million to scams in the first half of 20246 and scams aren’t likely to stop in 2025. The most insidious scams to be on alert for are e-commerce, job and phishing scams. Protect yourself by using government apps like ScamShield and learning how to protect yourself and your data online.
Season 2 of Singapore Social announced
One of Singapore’s more controversial shows that made it to Netflix, Singapore Social, followed the lives of young Singaporeans juggling careers, relationships, and the ups and downs of adulting. While it never officially got the cancelled, there’s a slim chance it could make a surprise comeback in 2025. If it does, here’s hoping the cast gets more creative control to dial down the cringe and serve up something more relatable!
Increase in Baby Bonus
2025 might just be the perfect year to start your parenting journey, especially if the government boosts the Baby Bonus scheme again. The last update in 2023 raised the Baby Bonus by $3,000, giving first-time parents a cash gift of S$11,000. With the rising costs of raising a child, another increase would be a welcome relief. Plus, Minister Indranee Rajah hinted at a “special gift”7 for couples welcoming a baby next year as part of the SG60 celebrations. I wonder what it is 👀.
General Elections in the first half of 2025
The government has been keeping things under wraps, but Singapore’s next General Election could be just around the corner. By law, elections must be held within three months after five years from the first sitting of the last Parliament—which means 2025 fits the timeline perfectly, since the last GE was in 2020. I hope it happens soon because I want that free public holiday.
NParks announces new green trails
True to our Garden City reputation, 2025 could bring exciting developments to Singapore’s green spaces. NParks has been rejuvenating areas like Jurong Lake Gardens, and there are plans to connect 13 parks in southern Singapore, including Mount Faber and HortPark into one seamless green trail8. While no completion date has been announced, here’s hoping we’ll get some updates!
Singapore trials a four-day work week
This is one prediction I really hope comes true. While seven in 10 employers agree it’s a feasible idea, actually trialling it seems far off, with 95% still saying no to implementation due to concerns over productivity and finances9. We’ve done our own deep dive into the topic, exploring how shorter work weeks could reshape the way we live, work, and thrive.
The rise of a new blind box trend
The second half of 2024 saw Singapore swept up in a full-blown Labubu craze. Collectors spent as much as S$150 per attempt to snag rare figurines through blind boxes after K-pop star Lisa from Blackpink shared her Labubu collection. The trend isn't just a fad; it’s part of a larger wave of Pop Mart collectibles that shows no signs of slowing. The only question is what new cute, viral character will dethrone the strangeness of Labubu.
Update on the KL-SG high speed rail
The Singapore-Kuala Lumpur high-speed rail (HSR) project feels like a classic "will-they-won’t-they" storyline between the two governments. First announced in 2013, the project aimed for completion by 2026, but it’s faced multiple delays, cancellations, and revivals over the years. After being shelved in 2021 due to disagreements, hopes were rekindled in 2023 when both governments confirmed the project’s revival10. As of now, discussions are still ongoing, but fingers crossed, we can hop on a train to sample all the good food in KL in the near future.
More CDC vouchers
As announced during Budget 2024, all Singaporeans will receive their remaining S$300 in CDC vouchers in 2025. Given the rising cost of living and the likelihood of an election, I’d wager that this support will continue alongside Service and Conservancy rebates and utility vouchers.
Two new BTO launches in prime areas
The Housing Development Board (HDB) recently revamped its Build-to-Order (BTO) flat classifications into three tiers: Standard, Plus, and Prime11. Prime flats, situated in highly central locations with top-notch transport links and a variety of amenities, come at a premium and require a minimum occupancy period of 10 years—double that of Standard flats. Based on the October 2024 BTO launches, only one Prime project was announced in Kallang Whampoa. If 2025 follows suit, we could see at least two more Prime HDBs making their debut in some of Singapore’s most sought-after locations.
Fertility rate increases to 1.0
Elon Musk recently made waves with his tweet claiming Singapore is "going extinct," but I’m choosing to stay optimistic. According to the Singapore Department of Statistics, marriage rates have been steadily rising, with recent years even seeing record numbers of weddings12. While more marriages don’t necessarily mean more babies, it’s not impossible to imagine a turnaround in birth rates, especially with ongoing government incentives and a stabilising economy.
No more MRT breakdowns
Who could forget the major East-West MRT Line disruption this year? Over six days, it affected the commutes of 500,000 out of the 2.8 million MRT journeys taken daily13. If nothing else, it reminded us just how much we rely on our train system. Here’s hoping 2025 brings smoother rides and fewer breakdowns because honestly, no one wants to relive that chaos again.
Insects become the next snack craze
Singaporeans are diehard foodies and I’m sure that we can stomach almost anything, including insects. The Singapore Food agency has approved grasshoppers, crickets and 14 other insect species as food this year14. Restaurants are already cooking up exciting new variations of local favourites like swapping the fried ikan bilis in Nasi Lemak with edible creepy crawlies.
Record-breaking heatwave in April
The heat is on in more ways than one. Singapore’s temperatures are climbing, mirroring the Earth’s record 13-month stretch of scorching heat15. As climate change continues to throw unpredictable weather our way, staying cool is all anyone can think about. Check out how you can beat the heat and help the planet at the same time.
Revision to NS service allowance
We owe it to the servicemen protecting our nation to ensure they’re well-supported. With rising costs from the GST hike and increased transport fares, the S$125–S$200 bump to NS service allowances16 back in 2023 may not stretch as far as it used to. Here’s hoping 2025 brings more meaningful support for full-time national servicemen which they can maximise to get a head start in life beyond their two years of NS.
New animal species discovered
Singapore’s green spaces aren’t just pretty, they’re full of surprises too. In 2023, we found a new cockroach species (more bugs!) which has been named after the Pokémon Pheromosa17. With plans for a new marine park near Kusu and Lazarus islands in the works, here’s hoping we spot a new marine species (I’m hoping dolphins) swimming in our backyard.
Let’s journey through 2025 together
The future is what you make of it, and 2025 is shaping up to be your best year yet. Let Singlife help you stay on track with your goals, whether that’s saving more or making sure you’re protected against life’s surprises. Start your year with confidence by speaking with our financial adviser representatives to find a better way to financial freedom.
Notes
1. Source: National Population and Talent Division, Singapore. “Population in Brief 2024”, accessed on 13 December 2024.
2. Source: Land Transport Authority, Singapore. “Injection of Additional COE Quota with Reduced Usage & ERP 2.0 Transition”, accessed on 13 December 2024.
3. Source: The Straits Times, Singapore. “Asia’s top universities: NUS slips to 3rd place, NTU climbs one spot to 4th”, accessed on 13 December 2024.
4. Source: World Happiness Report. “World Happiness Report 2024”, accessed on 13 December 2024.
5. Source: Channel News Asia, Singapore. “Singapore's Shanti Pereira breaks national, SEA Games records en route to 200m gold”, accessed on 13
6. Source: The Straits Times, Singapore. “Scam victims in S’pore lost $385.6m in first half of 2024 as number of cases hits high of 26,587”, accessed on 13 December 2024.
7. Source: Channel News Asia, Singapore. “Babies born in 2025 to receive 'special gift' as part of SG60 celebrations: Indranee Rajah”, accessed on 13 December 2024.
8. Source: The Straits Times, Singapore. “Trails being planned to connect 13 parks in southern Singapore”, accessed on 13 December 2024.
9. Source: The Straits Times, Singapore. “95% of employers in Singapore say no to implementing 4-day work week now: Survey”, accessed on 13 December 2024.
10. Source: The New Straits Times, Kuala Lumpur. “KL-Singapore high speed rail project back on”, accessed on 13 December 2024.
11. Source: Housing & Development Board, Singapore. “Standard, Plus, and Prime Housing Framework”, accessed on 13 December.
12. Source: Department of Statistics, Singapore. “Press Release on Statistics on Marriages and Divorces, 2023”
13. Source: The Straits Times, Singapore. “500,000 out of 2.8 million MRT journeys affected daily during East-West Line disruption”, accessed on 13 December 2024.
14. Source: Channel News Asia, Singapore. “Grasshoppers and superworms among 16 insect species approved as food in Singapore”, accessed on 13 December 2024.
15. Source: Channel News Asia, Singapore. “Commentary: Earth has just ended a 13-month streak of record heat - here’s what to expect next”, accessed on 13 December 2024.
16. Source: MINDEF, Singapore. “Revision of National Service Allowance”, accessed on 13 December 2024.
17. Source: NUS news, Singapore. “Novel cockroach species found in Singapore gets named after Pokémon”, accessed on 13 December 2024.
