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We are in good hands as Household Net Wortg
- Thread starter k1976
- Start date
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.
Source: Singapore Department of Statistics
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).
Thousands of SGD / Source: Singapore Department of Statistics
| 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% |
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 |
O yes,we will feel wealthier if the govt gives us CDC vouchers every month. Lol..
Create good pay high tech jobs eg Grab
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.
Please note the above. Statistics can lie very well.
Lanjiao ,pigeon holes , be it hdb ,EC ,condo all worthless,only kum gong 60% still believe
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?
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.
Must read the assumption and exclusions fine print De woh
Number dun lie... Ish only u dun understand the assumption and exlcusion only
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?
Number dun lie... Ish only u dun understand the assumption and exlcus
U are in good hands, no worry
Remember to sirpok Pineapple foor more good years ahead
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