Tag Archives: Department of Statistics

Homeownership in Singapore down in past 10 years

Posted on 24 Sep 2014 | Comments Off on Homeownership in Singapore down in past 10 years

Although overall homeownership in the city-state remains high at 89 percent in the 2012/2013 period, this is a slight dip from the 91 percent recorded in the previous 10-year period, revealed recent data from the Department of Statistics’ household expenditure survey.

Ownership of HDB flats saw the most noticeable drop over the past decade, falling from 91.9 percent in the 2002/2003 period to 89.9 percent in 2012/2013.

The homeownership rate of condominiums and other apartments has fluctuated in recent years, increasing from 83.6 percent in 2002/2003 to 85.6 percent in 2007/2008, but this has since slipped to the current 84.5 percent.

Meanwhile, households staying in landed properties enjoyed the highest levels of homeownership in Singapore, with 92.2 percent owning their homes in 2012/2013, up slightly from the 91 percent in 2002/2003.

Specifically, the rate of homeownership was generally higher among households in the 21st to 80th percentile income bracket, whereby more than nine in 10 owned their own homes.

The survey was conducted among 11,050 households between October 2012 and September 2013.

Click here to read the full report.

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Singapore April inflation rate up as housing costs soar

Posted on 24 May 2012 | Comments Off on Singapore April inflation rate up as housing costs soar

Singapore inflation hit a slightly higher-than-expected % in April, increasing the chance that it may exceed a government forecast for the year and putting pressure on the central bank to keep a tighter monetary policy.

A Reuters poll of 12 economists had forecast a rise of 5.3%. In March, the year-on-year inflation rate surprisingly spiked to 5.2% from 4.6% the previous month.

Headline inflation “could average around 5% year-on-year in the first half of 2012 before easing gradually in second half,” the Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry said on Wednesday in a statement reporting the April data.

“Accommodation cost will remain the largest contributor to inflation this year as leasing contracts continue to be renewed at rentals that are considerably higher than those under existing contracts, especially in the (public housing) segment,” it said.

The central bank reiterated its forecast for headline inflation of 3.5-4.5% for 2012 and for core inflation, which excludes private road transport and accommodation costs, of 2.5-3.0%.

But the latest data makes some analysts wonder if inflation can be low enough in the second half to stay under 4.5% for the year.

Song Seng Wun, economist at CIMB, said that upward pressure from premiums that Singapore charges car buyers and housing costs will put inflation in the 4.5-5.0% range for the full year.

Wai Ho Leong, regional economist at Barclays, said that with wages rising, inflation “is going to be surprisingly high for the next two months” at around 5% and “possibly even higher”.

Source: PropertyReport – 2012 May 22

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