Mortgage to annual salary ratio of 30% - not a good indicator
Bcos pple who cannot afford flats are not captured
Also loan tenure is 30 yr
About 56% of all HDB buyers take 30 yr loan
Price to income ratio
4 rm
2000 4.7
2009 5.5
5 rm
2000 5
2009 5.6
Global average 7-9x
HDB flats have become less affordable in the past 9 yrs but still more affordable vs global average.
Monday, October 19, 2009
Who is driving up HDB prices?
PR buys 20% of all HDB resale flats
23,000 HDB flats are rented out illegally (est)
23,000 HDB flats are rented out illegally (est)
Salary: Singapore vs Asia Pacific
Pakistan 9.6%
Vietnam 8.5%
India 8%
Singapore 2.8% (No.7 out of 19)
HK 2.3%
NZ 2.2%
Japan 1.9%
Average 4.8%
Salary freeze ratio
2009 50%
2010 16%
Resignation rate
2008 16.7%
2009 6.2%
Vietnam 8.5%
India 8%
Singapore 2.8% (No.7 out of 19)
HK 2.3%
NZ 2.2%
Japan 1.9%
Average 4.8%
Salary freeze ratio
2009 50%
2010 16%
Resignation rate
2008 16.7%
2009 6.2%
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