Singapore also has one of the lowest fertility rates in the world, at only 1.16 children per woman. Living in a controlled and apartment-dominated country seems to crush the desire and ability to have many children.
It's also a cultural thing. Most people can afford to rent in their twenties, but plenty of families discourage it.
Subsidised public housing is available to married couples, and to singles 35 and above — but the wait time for new public housing with a 99-year lease is 3-4 years [1], which probably also affects the birth rate.
[1] https://www.hdb.gov.sg/cs/infoweb/about-us/news-and-publicat...
If it's 'control' then why is birthrate high in many dictatorships? If it's apartments, why is birthrate decent in many ex-soviet countries full of apartments?