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Property fuels surge in S'poreans' net wealth

MAS review shows household debt rising, but savings piling up faster; cautions that risks remain

Published Tue, Dec 3, 2013 · 10:00 PM
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[SINGAPORE] Singapore households have been given a clean bill of health as far as their debt is concerned. Despite warnings of an increasing exposure to mortgages, net wealth has grown robustly over the past decade and stands at about four times GDP, according to the Monetary Authority of Singapore Financial Stability Review 2013.

While household debt continues to increase, savings are piling up faster and massive cash deposits outweigh total liabilities, the review showed yesterday.

Measures to cool the residential property market are having a significant impact, too.

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