Written answer by Ministry of National Development on data on first time buyers of resale HDB flat from 2018 to 2022

Jan 9, 2023


Question No: 2568

Question by: Mr Chua Kheng Wee Louis

To ask the Minister for National Development in each year from 2018 to 2022 (a) what is the number of first-time buyers of a resale HDB flat; and (b) what are the 25th percentile, median, average and 75th percentile (i) household incomes and (ii) purchase price to income ratios for such buyers.

Answer:

The (i) number of first-timer families who bought a resale HDB flat, (ii) household incomes and (iii) house price-to-income (HPI) ratio for these families, from 2018 to 2022, are in tables 1A and 1B.

Table 1A: Summary Statistics of First-timer Families Who Bought Resale HDB flats

 

Year

Number of First-Timer Families who bought Resale HDB flats

Household Income of First-timer Families

25th Percentile

Median

Average

75th Percentile

2018

4,500

$4,600

$6,200

$6,400

$8,100

2019

5,000

$4,800

$6,500

$6,800

$8,600

2020

5,700

$4,800

$6,400

$6,800

$8,500

2021

5,800

$5,400

$7,000

$7,300

$9,000

2022

(Q1 - Q3)

4,100

$5,800

$7,500

$7,700

$9,500

 

 

 

Note:

[1] Data based on applicants’ incomes as at point of key collection.
[2] Data includes applicants who took a HDB loan.

[3] Income figures rounded to nearest hundred.

Table 1B: HPI (after grants) of First-Timer Families Who Bought Resale HDB flats

 

Year

HPI (after grants) of First-Timer Families at different income percentiles

25th Percentile

Median

Average

75th Percentile

2018

4.1

4.9

5.1

5.8

2019

4.0

4.8

4.9

5.7

2020

3.9

4.6

4.8

5.5

2021

4.1

4.8

5.0

5.7

2022

(Q1 – Q3)

4.2

5.0

5.1

5.7

Note:

[1] Data based on applicants’ incomes as at point of key collection.

[2] Data includes applicants who took a HDB loan.

2        Over the past two years, there has been upward momentum in HDB resale prices, reflecting a broad-based increase in public housing demand. To moderate demand in the HDB resale market, we introduced cooling measures in Dec 2021 and Sep 2022. 

3        The Government remains committed to keep public housing inclusive, affordable, and accessible to Singaporeans. We will continue to monitor the property market and are prepared to make further moves if needed to ensure a stable and sustainable property market.