{"id":103224,"date":"2019-01-23T12:12:43","date_gmt":"2019-01-23T05:12:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-prices-seriously-unaffordable-survey\/"},"modified":"2019-01-23T13:05:06","modified_gmt":"2019-01-23T06:05:06","slug":"singapore-housing-prices-seriously-unaffordable-survey","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-prices-seriously-unaffordable-survey\/","title":{"rendered":"Singapore housing prices seriously unaffordable: survey"},"content":{"rendered":"


\nThe survey results showed that the median house price is 4.6 times the median household income.
\nHouse prices in Singapore are considered \u201cseriously unaffordable\u201d, with a median multiple of 4.6, which means that the median house price is 4.6 times the city-state\u2019s median household income, according to an annual survey.
\nConducted by urban planning policy consultancy Demographia in Q3 2018, the 15th Annual Demographia International Housing Affordability Survey (2019) covered 309 cities in eight countries, including the United States, China (only Hong Kong), the United Kingdom, Australia, Singapore, Canada, Ireland and New Zealand.
\nMore: 88% Of Singaporeans Unhappy Over High Property Prices: PropertyGuru
\nThe survey found that Hong Kong has the world\u2019s least affordable home prices, with a median multiple of 20.9, up from last year\u2019s 19.4. Vancouver came in second, while Sydney, Melbourne and San Jose came in third, fourth and fifth, respectively.
\nLos Angeles, Auckland and San Francisco emerged as the sixth, seventh and eighth least affordable housing markets, while London (Greater London Authority) and Toronto were tied in 10th place with a median multiple of 8.3.
\n\u201cOver the past year, there has been moderation of house prices in some of the most unaffordable markets,\u201d noted the report.
\n\u201cIn some markets, prices have stabilized, while in others actual declines have occurred. However, none of the price declines have been sufficient to materially improve housing affordability. These developments could, in the long run, simply be further indication of the price volatility exhibited associated with stronger land use regulation.\u201d
\nRead the full report here.
\nCan you afford a condo in Singapore? Check your\u00a0affordability\u00a0now.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore housing prices seriously unaffordable: survey<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The survey results showed that the median house price is 4.6 times the median household...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-103224","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qQU","jetpack-related-posts":[{"id":41658,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-in-singapore-now-more-affordable-according-to-study\/","url_meta":{"origin":103224,"position":0},"title":"Home prices in Singapore now more affordable, according to study","date":"January 24, 2017","format":false,"excerpt":"\r Singapore homes recorded a slight decline in their median price last year, according to the 13th Annual Demographia International Housing Affordability Survey. In 2016, the home price here was 4.8 times the median annual pretax household income. While this is an improvement from the 5.1 recorded since the study\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41873,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-has-been-the-worlds-least-affordable-city-for-seven-years-in-a-row\/","url_meta":{"origin":103224,"position":1},"title":"This has been the world\u2019s least affordable city for seven years in a row","date":"January 25, 2017","format":false,"excerpt":"\r A slightly less expensive encore after a record 2015 Hong Kong SAR at night. cozyta\/Shutterstock Hong Kong has topped the 13th edition of Demographia\u2019s annual housing affordability survey, marking seven consecutive years of unbeatable home price to income ratios. 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