Housing prices vary dramatically between neighborhoods in Singapore. For this reason, affordability varies for individuals and families across the island. Have you ever wondered how much you would have to earn to live comfortably in various neighborhoods in the country? In this article we analyse how much you would have to earn in order to afford a typical 4-room HDB flat in each of Singapore’s neighborhoods.

What Kind of Salary Do You Need to Purchase a Home in Each Neighborhood?

In order to answer the question of how much one would need to afford a home in each neighborhood Singapore, we first estimated the home loan size and monthly payment based on median HDB resale prices. To make these calculations, we assumed that borrowers would require mortgages of 75% of the median resale price. Additionally, we calculated monthly payments using an interest rate of 2.5% and …