Singapore's property market has been unusually resilient, with prices rising 8.6% last year and 10.6% in 2021.
The institute's 2023 APAC Home Attainability Index showed the median price for a Singapore home was $1.2 million compared with $1.16 million in Hong Kong, where prices dropped 15% last year. Sydney houses ranked third at $980,000.
Monthly rents in Singapore also held the top spot in Asia-Pacific at a median of $2,598, trailed by Sydney houses at $1,958 and Sydney apartments at $1,732. Hong Kong ranked fourth at $1,686. When including public housing options, however, Singapore offered the most affordable home ownership with its government-built Housing and Development Board flats, which sold for a median price just 4.7 times the median household income.
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