Singapore households’ debt up in 2023, but assets grew faster

Quick Summary:

Household debt fell to 1.1 times personal disposable income, or after-tax income, in the third quarter of 2024.

It added: “However, given the heightened geopolitical uncertainties and trade tensions in the macrofinancial environment, households should continue to exercise prudence in their financial management.

Of total household debt, about 75 per cent are housing loans backed by property collateral.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Year Debt Income Household Cent Singapore First 2024 Financial Households Quarter

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-27 @ 13:00:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 501 words

Reading Time: 3 minutes read

Sentences: 38 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 23902036

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

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Year Established: 1845

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Publisher ID: #25

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