According to the latest property affordability survey Demographia International, Singapore properties scored a Median Multiplier of 5.0, and categorised as “seriously unaffordable”. The more worrying fact however, is that a Median Multiplier of 5.1 is just one category above as “severely unaffordable”.
The survey based its finding on the Median multiplier, which measures middle-income housing affordability, using median measures of existing house sales prices and household incomes.
However the survey said that prices of Singapore public housing has somewhat a lower Median Multiplier, but did not release the result citing lack of data from the Singapore government.
You may view the original Demographia report here.
In Parliament yesterday, PAP MP Christopher De Souza called for the government to remove the Additional Stamp Buyer Duty for Singaporeans. This move is likely to benefit the minority richer Singaporeans who are able to buy multiple private housing for investments.
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