Singapore, 06 Apr 2023 WITH home prices still rising across the board, many young Singaporeans may be wondering if they can afford a property and what their options are.
The good news is that Singapore’s home ownership rate remains one of the highest in the world at nearly 90 per cent. This is due to the accessibility of government-backed public housing flats and generous grants given to first-timers purchasing new Build-To-Order (BTO) flats. Many millennials also enjoy financial support from their parents when they purchase their first homes.
As most Singaporeans eventually become home owners and properties are the priciest assets they will ever own, property literacy should start as early as possible.