Market income supports home affordability, but ensuring prices grow in line with wages still matters

[SINGAPORE] Some young professionals fret over whether they can earn enough to buy a condominium unit in Singapore.

Yet, many young adults actively snap up units at new condo launches. In a suburban condo project, a two-bedroom unit of below 700 square feet (sq ft) and a three-bedroom unit of close to 900 sq ft might cost about S$1.5 million and S$2 million, respectively.

Besides relying on employment income and a loan to fund their condo purchases, some young buyers have financial help from their parents or profits from financial investments.