journo
05-09-22, 09:43
According to research, Singapore housing is "relatively inexpensive" in the Asia-Pacific
Sep 02, 2022
According to a recent analysis, Singapore is the only gateway city in the Asia-Pacific region with reasonably reasonable and reachable housing.
This is in comparison to the region's most populated cities, according to a report by the Urban Land Institute's (ULI) inaugural house attainability index. The non-profit education and research centre collected housing and household income data for Singapore and 28 cities in China, Japan, Australia, and South Korea.
Due to the low cost of Housing Development Board (HDB) units, which have a median price of $379,283, the Republic has the highest homeownership rate, at nearly 90 percent. Less than twenty percent of the overall housing stock consists of private dwellings with a median price of $1,135,000.
With a median monthly rent of $2,046, Singapore's non-HDB homes are the most expensive to rent in the region. Following this is $1,895 for Sydney homes.
Hong Kong is the most costly city for rent based on the rent-to-income ratio, with monthly rent representing around 50 percent of the median family income. This is hardly unexpected considering Hong Kong's status as the most expensive city in the world, according to ULI.
However, the highly subsidised public rental housing, which constitutes one-third of the entire housing stock, provides tenants with affordable choices.
With a typical property price of US$1.27 million, Hong Kong is also the most expensive city in the area to buy a home. The data solely considered private-sector dwellings, which constitute half of Hong Kong's overall housing supply.
Since 2003, local private home prices have increased sixfold, while rent has increased by 150 percent, according to ULI. Additionally, the average down payment for a mortgage in Hong Kong is around 40%, the highest in Asia-Pacific.
The homeownership rate in Hong Kong is 48.6%, the same as in Seoul. Japan has the lowest homeownership rate of 37%, but Chinese cities have homeownership rates ranging from 70 to 80%.
ULI observed that based on the ratio of median housing price to median family income, Shenzhen is the least affordable city for home purchases, mostly owing to the restricted new supply of commercial housing and rapid population expansion.
Sep 02, 2022
According to a recent analysis, Singapore is the only gateway city in the Asia-Pacific region with reasonably reasonable and reachable housing.
This is in comparison to the region's most populated cities, according to a report by the Urban Land Institute's (ULI) inaugural house attainability index. The non-profit education and research centre collected housing and household income data for Singapore and 28 cities in China, Japan, Australia, and South Korea.
Due to the low cost of Housing Development Board (HDB) units, which have a median price of $379,283, the Republic has the highest homeownership rate, at nearly 90 percent. Less than twenty percent of the overall housing stock consists of private dwellings with a median price of $1,135,000.
With a median monthly rent of $2,046, Singapore's non-HDB homes are the most expensive to rent in the region. Following this is $1,895 for Sydney homes.
Hong Kong is the most costly city for rent based on the rent-to-income ratio, with monthly rent representing around 50 percent of the median family income. This is hardly unexpected considering Hong Kong's status as the most expensive city in the world, according to ULI.
However, the highly subsidised public rental housing, which constitutes one-third of the entire housing stock, provides tenants with affordable choices.
With a typical property price of US$1.27 million, Hong Kong is also the most expensive city in the area to buy a home. The data solely considered private-sector dwellings, which constitute half of Hong Kong's overall housing supply.
Since 2003, local private home prices have increased sixfold, while rent has increased by 150 percent, according to ULI. Additionally, the average down payment for a mortgage in Hong Kong is around 40%, the highest in Asia-Pacific.
The homeownership rate in Hong Kong is 48.6%, the same as in Seoul. Japan has the lowest homeownership rate of 37%, but Chinese cities have homeownership rates ranging from 70 to 80%.
ULI observed that based on the ratio of median housing price to median family income, Shenzhen is the least affordable city for home purchases, mostly owing to the restricted new supply of commercial housing and rapid population expansion.