5 in 10 Singaporeans struggle to buy their first home
Singles are having the most difficulty.
Many Singaporeans plan to buy their first home (64%) but are struggling to do so (51%), PropertyGuru revealed.
The challenge of purchasing a home is most evident amongst singles (55%) and married couples with kids (49%).
In terms of property type, Singaporean’s top choices were new build-to-order (BTO) flats (31%), resale HDB flats (25%), and newly launched non-landed private properties (15%).
What makes home buying difficult for most Singaporeans include continued inflation and rising mortgage rates.
Until inflation eases, more than half (53%) of Singaporeans say they will delay plans to purchase a property. Meanwhile, more than half (59%) said they would delay their property purchase should there be further increases in mortgage interest rates.