According to the Urban Land Institute Asia Pacific Centre for Housing, the median price of Singapore's private homes is $1.2 million, compared to $1.16 million in Hong Kong.
Private home prices saw a decline in Sydney and Melbourne
as more people moved back to regional cities and an "unprecedented" 11 interest rate hikes in 12 months, the report added. But houses and apartments across Sydney, Melbourne and Brisbane saw an increase in the median monthly rent."There has been a reversal of population movement back to capital cities since the end of Covid-19 in 2022. This was likely one of the reasons for the increase in median rent in the country," David Faulkner, ULI's president for Asia-Pacific told CNBC.
That's in spite of a 7.9% increase of median HDB prices from 2021 to 2022, with the ratio of median HDB price to median annual income also rising from 4.5 to 4.7. HDB, or the Housing Development Board, is Singapore's public housing authority.
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