Sunday, September 23, 2012

Rise in HDB prices disproportional to wage increase

Median Gross Monthly (from the above mentioned MOM report)
Income From Work of Full-Time Employed Residents ($)
Year 2001 $2387
Year 2004 $2326
Year 2011 $3249

HDB prices from the same time period

HDB prices in 2004
3rm $90k
4rm $120k
5rm $160k
EA $280k

HDB prices in 2012
2rm $100k
3rm $160k (1.7x)
4rm $300k (2.5x)
5rm $380k (2.4x)
EC $800k (2.9x)

median wages went up 1.4 x from 2004 to 2012
but new HDB flat prices went up more than 1.5x

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