Singapore private homes aren't as pricey as they seem

Growth in personal income combined with low borrowing costs suggest there is no froth in home prices for now

Leslie Yee

Published Tue, Nov 30, 2021 · 05:50 AM

Property developers

Singapore

THERE is some anxiety over rising private home prices here, which are up by almost 8 per cent in the third quarter of 2021 compared with the fourth quarter of 2019, prior to the outbreak of the Covid-19 pandemic, data by the Urban Redevelopment Authority (URA) showed.

While nearly 80 per cent of resident households live in public housing units, the affordability of private homes for Singaporeans matters. Keeping private home ownership aspirations alive for mobile young Singaporeans can help retain local talent to work and raise families here.