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by OrangeTee & Tie Pte Ltd.

More Condo Dwellers Over The Past Years With Normanton Park As Popular Choice

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Singapore, 12 Jul 2021

The median monthly household has increased by 3.3% annually, and there are more households who live in condos and other apartments than a decade ago.

According to data from the Department of Statistics, Singapore’s household incomes have increased in real and nominal terms over the past 10 years, as reported by The Business Times (BT).

The report shows that condominiums and other apartments are on the rise in Singapore. Experts believe this trend will continue.

The median household income increased by 3.3% per year, which is 1.9% in real terms, from $5,600 in 2010, to $7,744 for 2020.

This was evident in the increase in median household income per household member (or 2.8% in real terms) from $1,638 per year in 2010 to $2.463 in 2020.

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