THE CHARTIST: SIN­GA­PORE BEATS HK, OTHER GLOBAL CITIES IN HOUS­ING AF­FORD­ABIL­ITY

Singapore Business Review - - FIRST -

Own­ing a pri­vate home in Sin­ga­pore has never been more at­trac­tive or eas­ier, with Sin­ga­pore pri­vate hous­ing af­ford­abil­ity im­prov­ing to its best lev­els in two decades, said Eli Lee, head of strat­egy at Bank of Sin­ga­pore. “Due to fall­ing home prices over the last bear cy­cle and ris­ing house­hold in­come, hous­ing af­ford­abil­ity in Sin­ga­pore has im­proved mean­ing­fully since 2010, with the pri­vate home price-to-in­come ra­tio fall­ing to 20 year lows,” he said.

Sin­ga­pore’s ris­ing af­ford­abil­ity makes it a com­pelling choice for home buy­ers com­pared to other ma­jor global cities. Lee said the likes of Hong Kong, Tokyo, and Syd­ney have seen their home prices and hous­ing af­ford­abil­ity worsen be­tween 2010 to 2016. Mean­while Sin­ga­pore’s hous­ing-to-in­come ra­tio fell to 4.8 from 7.3, whilst Hong Kong’s rose to 18.1 from 11.4.

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