Only top 5% of Singapore earners can afford a landed property: study

Mortgage payments may cost up to $9,086 per month.

With the skyrocketing prices of landed properties in Singapore, an average terrace house sold in H1 can only be afforded by buyers with a monthly income of around $34,646 or those who belong to the top 5% earners in Singapore or professionals such as specialist medical practitioners, CFOs, financial directors, and lawyers, a study by ValueChampion revealed.

“If we assume that you are making a downpayment of 25%, you will need $714,590 for the downpayment and will pay about S$9,086 for your monthly mortgage payment given an interest rate of approximately 2%,” ValueChampion junior research analyst Anastassia Evlanova explained.

Also read: Cooling measures to curb demand for landed homes

Based on their research, the firm found that the most expensive properties are Good Class Bungalows (GCBs) which typically cover over 1,400 sq m and are quite rare, with only around 2,700 of them built mainly in District 10 and 11. Their costs falls to more than $10,000 per square foot.

Detached properties came in next with average prices sold for $13.1m which translates to a rate of $9,002 psf on average. Meanwhile, semi-detached properties and terrace houses were sold for $4.12m and $2.86m on average in H1.

“Furthermore, landed properties come with different types of leaseholds which can also change how much a home costs,” Evlanova explained. “Freehold properties are the most expensive, followed by 999-year leaseholds and 99-year leaseholds.”

Also read: Landed home resales jumped 12.7% in Q2

In this case, Evlanova noted that smaller 99-year lease semi-detached landed homes with around 10-30 years left may tend to be cheaper. According to her, a few cost $300,000 to $400,000, making it cheaper than the average price of a 4-room HDB resale flat.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia