24 Jan '17, 6am

Home prices in Singapore now more affordable, according to study - PropertyGuru Singapore

Singapore homes recorded a slight decline in their median price last year, according to the 13th Annual Demographia International Housing Affordability Survey. In 2016, the home price here was 4.8 times the median annual pretax household income. While this is an improvement from the 5.1 recorded since the study started tracking the city-state in 2013, it cannot be deemed as ‘affordable’ as that rating requires a multiple of 3.0 and below. Nevertheless, Singapore is among the three countries, aside from Japan and Ireland, where there were no ‘severely unaffordable’ housing markets, with median prices equivalent to 5.1 times the yearly household income or above. Although a multiple of 4.8 is considered ‘seriously unaffordable’ by Demographia, the organisation praised the city-state’s authorities for implementing measures to keep residential prices within the means of the mas...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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