NUS study reveals shocking findings on public housing affordability

Singapore Democrats, 19 Nov 2012
A study conducted by researchers from the National University of Singapore (NUS) showed that a Singaporean household earning $5,000 in 2017 would be able to buy only a three-room flat.
Associate Professors Chia Ngee Choon and Albert Tsui made this projection in their study commissioned by the Ministry of Manpower.
The researchers made the following calculations for younger Singaporeans entering the workforce today and looking to buy an HDB flat in 2017 when they are about 30 years old:

• Lower-middle income households at the 30th income percentile (combined monthly income of $5,100) would be able to afford a three-room flat.
• Median-income households at the 50th income percentile (combined monthly income of $7,100) would be able to afford a four-room flat.
• Upper-middle-income households at the 70th income percentile (combined monthly income of $9,200) would be able to afford a five-room flat.

This shocking finding tells the story of a Singapore in reverse gear. In the early 1990s a household earning $5,000 was able to buy a condominium or even a terrace house. By 2017, according to the NUS researchers, households with twice that income will only be able to afford a five-room flat. Full story