The median price of Singapore private homes stood at $1.7 million in 2023.
SINGAPORE – Private residential homes in Singapore continue to be the most expensive in the Asia-Pacific for the second year in a row, according to a report by the Urban Land Institute released on May 21.
However, the report also ranked public housing in Singapore as the “most attainable” in terms of home ownership in 2023. It noted that the country has a home ownership rate of nearly 90 per cent. In 2023, private home prices in Singapore rose 7 per cent despite property cooling measures implemented in April that year – when additional buyer’s stamp duty rates were raised and loan-to-value ratios were tightened, the report said.
This was followed by Singapore private homes, which had a median of US$11,749 per sq m, and Shenzhen in China with an average of US$10,142 per sq m. Renting is generally “significantly more affordable” than buying a home in the region, said the report.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5-room HDB flat resold for record $1.588M price in Tiong BahruThis sale establishes it as Singapore's most expensive HDB flat ever sold!
Read more »
Singapore takes the crown for offering highest average annual salary in AsiaThe Little Red Dot has edged out other wealthy nations in the region, including the United Arab Emirates and Qatar
Read more »
Wall Street Journal moves Asia HQ from Hong Kong to Singapore, resulting in layoffsWASHINGTON: The Wall Street Journal (WSJ) will shift its Asia headquarters from Hong Kong to Singapore, it said on Thursday (May 2) in a letter sent to staff and seen by AFP.
Read more »
WSJ moves Asia operations from Hong Kong to SingaporeThe move to Singapore, which involves layoffs of staff in Hong Kong, mirrors similar shifts by numerous corporations in the region.
Read more »
Singapore is 5th most targeted country for ransomware attacks in AsiaThese incidents are no small matter, as they could result in business disruptions, data breaches, and reputational harm
Read more »
BMW Group Asia's Singapore Sales Surge in 1Q24pstrongIn 1Q24, the group's premium segment reported a 51.5% YoY increase in sales./strong/p pBMW Group Asia saw robust growth in new car sales in Singapore in 1Q24. /p pIts premium segment, BMW, saw a 51.5% YoY increase, whilst its EV segment, BMW BEV, and its MINI segment experienced YoY increases of 151.5% and 6.1%, respectively.
Read more »