We are in good hands as Household Net Wortg

[k1976]

https://www.google.com.sg/amp/s/vul...t-worth-up-8-9-per-cent-singapore/amp/?espv=1

 

[k1976]

The Singapore Department of Statistics released quarterly household net worth data on August 29, providing insights into wealth held in private hands, covering residents (citizens and PR) as well as foreigners who have engaged in economic activity in the city-state for at least a year.

YEAR-ON-YEAR CHANGE	Q2 2023
Household Net Worth (= Assets – Liabilities)	+8.9%
Assets	+7.6%
– Financial Assets	+6.6%
– Residential Property Assets	+9.1%
Liabilities	-1.0%
– Mortgage Loans	+1.8%
– Personal Loans	-7.9%

Source: Singapore Department of Statistics

---

Paying off dues​

While these figures may be affected by inward migration, i.e. wealthy people moving to Singapore, it is notable that the increase in assets held in private hands coincided with a drop in liabilities — particularly in personal loans, which are typically most costly and taken to finance current spending.

Given the rising interest rates, it makes sense to reduce your outstanding liabilities, but it also shows that Singaporeans were able to do so, paying off S$10 billion in non-motor vehicle loans (even as credit card debt increased by S$2 billion at the same time).

LIABILITIES	Q2 2022	Q2 2023
Mortgage Loans	259,487	264,037
– Financial Institutions	221,838	224,571
– Housing & Development Board (HDB)	37,648	39,466
Personal Loans	103,042	94,935
– Motor Vehicle	10,213	9,660
– Credit/Charge Cards	11,611	13,289
– Others	81,218	71,985

Thousands of SGD / Source: Singapore Department of Statistics

 

[k1976]

Do u feel wealthier than 3 years ago?

Please remember u are in good hands

 

[k1976]

Fellow Sinki, please be reminded again, u are in good hands.... Please Dun Rock the Boat. Thank u

 

[k1976]

Pineapple has delivered consistently good results for u and family, to enjoy this prosperity... Dun be backside itchy

 

[batman1]

Do u feel wealthier than 3 years ago?

Please remember u are in good hands

O yes,we will feel wealthier if the govt gives us CDC vouchers every month. Lol..

 

[k1976]

O yes,we will feel wealthier if the govt gives us CDC vouchers every month. Lol..

Create good pay high tech jobs eg Grab

 

[k1976]

Enjoy strong wealth twickling down effect on your HDBee resale

 

[k1976]

More help for Poor Hardlander AH Fok with 9% GST in Jan2024 coming

 

[A Singaporean]

They should break down into Sinkie, PR, foreigner to get the true picture.

 

[jw5]

They should break down into Sinkie, PR, foreigner to get the true picture.

For all you know, the sample size included all those foreigners arrested recently for money laundering.

 

[nightsafari]

​

While these figures may be affected by inward migration, i.e. wealthy people moving to Singapore, it is notable that the increase in assets held in private hands coincided with a drop in liabilities — particularly in personal loans, which are typically most costly and taken to finance current spending.

Given the rising interest rates, it makes sense to reduce your outstanding liabilities, but it also shows that Singaporeans were able to do so, paying off S$10 billion in non-motor vehicle loans (even as credit card debt increased by S$2 billion at the same time).

Please note the above. Statistics can lie very well.

 

[millim6868]

Lanjiao ,pigeon holes , be it hdb ,EC ,condo all worthless,only kum gong 60% still believe

 

[glockman]

Pineapple has delivered consistently good results for u and family, to enjoy this prosperity... Dun be backside itchy

I am so confused! Pineapple said he is not Lightning. If that's the case, don't support Pineapple will not affect Lightning, tio boh?

 

[mojito]

Lanjiao ,pigeon holes , be it hdb ,EC ,condo all worthless,only kum gong 60% still believe

Things have value and worth as much when other people say so. Stock price. Net worth. Etc. That why even the kids here are so test score crazy while cecas are sending robots to the moon.

 

[k1976]

Please note the above. Statistics can lie very well.

Must read the assumption and exclusions fine print De woh

 

[k1976]

Please note the above. Statistics can lie very well.

Number dun lie... Ish only u dun understand the assumption and exlcusion only

 

[birdie69]

O yes,we will feel wealthier if the govt gives us CDC vouchers every month. Lol..

I feel poorer as my SP bill going up from $180 to more than $240 per month since receiving CDC voucher, don't know why?

 

[k1976]

Please note the above. Statistics can lie very well.

Number dun lie... Ish only u dun understand the assumption and exlcus

I feel poorer as my SP bill going up from $180 to more than $240 per month since receiving CDC voucher, don't know why?

U are in good hands, no worry
Remember to sirpok Pineapple foor more good years ahead

 

[Leongsam]

Well done PAP keep up the good work.