Public Housing In the Open Market
Based on data from Jan 1990 to 2015. Source HDB.
If the trend continues, the HDB resale price will double in 10 years time - 2020. A typical 1,000 sq. ft. HDB apartment which cost $500,000 today (2011) would worth $1,000,000 (one million Singapore Dollars) in 2020.
So 2020, will be a good time for those already own their HDB homes.
But for those teenagers today, which will be buying their first home in 2020, that time may not be so rosy. Based on the rule of X5 household income rule-of-thumb (see below). The couple should have a combined monthly income of nearly $17,000 to be able to afford it.
This is a simple projection of median household monthly income in 2020.
Financial Planning Rule Of Thumb: The purchase price of a home should be less than 5 years (5x) of the combined family annual income.
Updated On: 15.07.19