While Singapore has one of the highest home ownership rates in the world, many young people are increasingly looking at rental instead of home ownership due to rising house prices. Does the conventional wisdom of owning a home if you can still hold true? Here are 5 reasons why you should still aim to buy your home.

1. Properties Serve As Hedge against Inflation

One of the key considerations in the long term would be inflation. All things kept constant, barring an economic downturn, property values will go up in the long term. That’s because properties are known as a good hedge against inflation. The combination of lower supply of land, increased demand through population increase, rising construction costs all will push property prices up. Inflation is generally at an average of 2-4% per year; as such one would expect property prices to go up in at least the ...