Which new condos can you get with Singapore’s median salary?
The median income in Singapore rose above $4,400 in 2018, according to the latest data released by the Ministry of Manpower (MOM).
According to MOM’s findings, the median gross monthly income among Singaporeans and permanent residents who were employed full-time was $4,437 this year, including employer contributions to the Central Provident Fund. This compares to a median income of $4,232 in 2017, and $4,056 in 2016.
Based on these findings, if you’re earning the median salary in Singapore, here are some new condos that you will be able to purchase with a spouse or a partner.
For simplicity’s sake, we assume that both partners earn a respective median salary of $4,400 (or a combined salary of $8,800) and have no other financial commitments.
Based on these figures, your maximum property purchase price (based on a TDSR of 60%) would hover around $1.25 million, with an estimated monthly repayment of about $4,000. New condo projects that fall within your affordability range include the following:
*Figures are mere estimates and should not be used for official purposes
1) JadeScape
2) Parc Esta