Home prices are at record highs in 2022, and now we face the threat of higher interest rates; we’re not surprised that home buyers are starting to get anxious. This leads us to that old battleground of divisive opinions: how affordable is housing to Singaporeans, especially in light of recent events?

According to SingStat, the median monthly household income stood at $9,520 (inclusive of CPF contributions) in 2021.

With the exception of 2020 – when Covid-19 was at its peak – the median monthly household has risen every year since 2010.

In terms of savings, there was a recent answer to a parliamentary question that provides some information. Between 2017 to 2020, personal savings grew from $67 billion to $106 billion, while the savings rate rose from 28.6 per cent to 40.6 per cent.

For the full article, please visit: https://stackedhomes.com/editorial/is-housing-in-singapore-still-affordable-to-the-average-singaporean-in-2022/?utm_source=youtube.com&utm_medium=description&utm_campaign=ep_44

Chapters
00:00 - Intro
01:12 - How well are Singaporeans doing financially
02:14 - Biggest Assets & Liabilities are properties
03:33 - Can Singaporeans afford their homes?
04:53 - Affordability Example 1: Resale, 4-room HDB flat 
05:53 - Affordability Example 2: BTO 4-room flat
06:43 - Affordability Example 3: Private non-landed property 
09:54 - Outro

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Stacked is an online editorial aimed at helping Singapore home buyers, sellers and renters make better decisions. By regularly conducting research and publishing our findings, we hope to give our readers a much better perspective on buying, selling or renting Singapore real estate.

Editorially independent, our articles are published in-house and do not receive sponsorship. We hope to provide unbiased, reliable content that our readers can use.

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