Read? Are new HDB prices really not affordable now?
SINGAPORE: The Ministry of Manpower (MOM) said the median monthly income of resident Singaporeans in full-time employment rose by 4.2 per cent over the year to S$2,710 in June, boosted by the strong economic recovery.
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Here is the Maths:
median annual income = $2,710 x 13 (including AWS or 13th month pay or bonus)
= $35,230
Cost of a new 4-room at Punggol now is selling at about $300K
So it about 8.5 times median annual salary.
Mine was bought at 6.2 times annual income so it is a 37% increase!!! Mine was cheaper but it was built near a cemetry and so ulu hor. Only one bus service to Kovan Bus Exchange.
This increase of 37% come with better quality and environment but it is smaller.
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