21 Nov '11, 4am

Net household wealth rises: In its Financial Stability Review for this month, the Monetary Authority of Singapor...

Net household wealth rises: In its Financial Stability Review for this month, the Monetary Authority of Singapor...

The New Paper Monday, Nov 21, 2011 Singapore households continue to have healthy balance sheets, which should put them in good stead to weather the more uncertain economic environment ahead. In its Financial Stability Review for this month, the Monetary Authority of Singapore (MAS) said household wealth had been boosted by rising property prices. It said the "broad-based growth of the Singapore economy has underpinned the recovery of the property market in the past three years, as household net wealth continued to improve from its trough" in the first quarter of 2009. Household net wealth (defined as household assets less household debt) was an estimated $1,247 billion in the third quarter of this year - 27 per cent higher than a peak in the second quarter of 2008. The increase was "largely due to the higher value of property holdings as the property market continued on an...

Full article: http://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Stor...

Tweets

ST: "Rising property prices boost Singapore households' wealth" Sure, I feel frikkin' rich. Thanks.

ST: "Rising property prices boost Singapore hou...

straitstimes.com 18 Nov '11, 8am

Singapore's households are at their wealthiest, boosted by rising property prices, a report released by the Monetary Autho...