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Singapore households’ net worth grows as residential asset values climb

Fiona Lam

Published Wed, Jun 15, 2022 · 11:35 AM

MARKET watchers expect the total value of private homes and Housing Board (HDB) flats held by households to keep rising, albeit more slowly than before, and in turn further bolster household net worth.

Quarterly data on the household sector balance sheet, released by the Singapore Department of Statistics (Singstat), showed that the growth in residential assets has sped up over the past few quarters, amid a buoyant property market.

Household net worth – that is, assets less liabilities – climbed about 8.7 per cent year on year (yoy) to S$2.43 trillion as at the end of Q1 2022. This was a tad slower than the 10.2 per cent surge to S$2.39 trillion as at end-2021.

Total assets, which comprise financial assets and residential property assets, rose some 8.4 per cent yoy to S$2.79 trillion in Q1 2022, after a 9.8 per cent…