The broader picture painted by the survey is equally concerning, with 38 per cent of all Singaporeans expressing worries about their ability to afford a home. This figure represents a significant increase in housing affordability concerns compared to previous years.
Another alarming revelation in the survey pertains to individuals with housing loans. A notable 40 per cent of Singaporeans are now anxious about their ability to meet their monthly mortgage instalments. This figure marks a four-year-high, surpassing the anxiety levels recorded during the tumultuous period of the COVID-19 pandemic from 2020 to 2022. In 2021, the figure sat at 31 per cent, and a recent spike in interest rates has exacerbated the escalation of mortgage affordability concerns.
Source: Loan Digest (loandigest.net)
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