{"id":121669,"date":"2021-08-26T02:36:04","date_gmt":"2021-08-25T19:36:04","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-affordability-to-slightly-worsen-amid-price-hikes\/"},"modified":"2021-08-26T11:03:18","modified_gmt":"2021-08-26T04:03:18","slug":"singapore-housing-affordability-to-slightly-worsen-amid-price-hikes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-affordability-to-slightly-worsen-amid-price-hikes\/","title":{"rendered":"Singapore housing affordability to slightly worsen amid price hikes"},"content":{"rendered":"


\nSingapore housing affordability to slightly worsen amid price hikesDespite increasing property prices, housing affordability in Singapore is likely to remain\u00a0sound.
\nWith low interest rates offsetting the impact of increasing property prices, Moody\u2019s Investors Service expects housing affordability in Singapore to worsen slightly, but remain sound over 2021 to 2022, reported Singapore Business Review (SBR).
\n\u201cPrivate residential property prices in Singapore will further increase over the next 18 months supported by strong demand. However, the government has signalled that it will impose cooling measures if house prices soar, potentially curbing growth over the rest of 2021 and 2022 compared with 2020,\u201d said Moody\u2019s Assistant Vice President and Analyst Dipanshu Rustagi.
\nMoody\u2019s believes the sound housing affordability would support the credit quality of loans within covered bond mortgage pools.
\nAnd with major advanced economies taking on an \u201caccommodative monetary policy\u201d stance, the city-state\u2019s mortgage interest is expected to remain low for the rest of 2021, said Moody\u2019s. Nonetheless, interest rates are forecasted to pick up next year as the global economy recovers slightly.
\n\u201cAs a result, housing affordability \u2013 the share of household income borrowers need to meet monthly home loan repayments for a typical new mortgage in Singapore \u2013 will worsen slightly over the next 12-18 months but stay low,\u201d it said as quoted by SBR.
\nMoody\u2019s sees Singapore household income remaining stable during the rest of 2021 and next year, indicating improvements in the economy and job market. Notably, the unemployment rate in Singapore fell from 3.5% in September 2020 to 2.7% in June 2021, albeit remaining above pre-COVID-19 pandemic levels due to disruptions in some sectors like hospitality and aviation.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore housing affordability to slightly worsen amid price hikes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore housing affordability to slightly worsen amid price hikesDespite increasing property prices, housing affordability in...<\/p>\n","protected":false},"author":1,"featured_media":121670,"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-121669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/HDB-flat-Singapore-1.jpg?fit=820%2C411&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vEp","jetpack-related-posts":[{"id":111471,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-remains-in-fair-valued-zone\/","url_meta":{"origin":121669,"position":0},"title":"Singapore housing market remains in fair-valued zone","date":"October 9, 2019","format":false,"excerpt":"\r \u00a0 Singapore was cited as the country with the most improved housing market with regard to affordability. 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