Should Singapore millennials (and Gen Z) buy or rent their homes?

Should Singapore millennials (and Gen Z) buy or rent their homes?

Mario Singh Mario Singh

Mario Singh

Entrepreneur | Investor | Author | Founder & Chairman

发布日期: 2021年11月29日
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THIS WEEK’S TOPIC: From a financial standpoint, should millennials (and Gen Z) in Singapore buy or rent their home?

I have had several conversations with millennials and Gen Z around this issue, and from what I gather, many end up renting because of a push/pull factor.

Cost is the push factor. Based on recent November prices on HDB’s website, a 4-room Build-To-Order flat in Kallang/Whampoa area would set you back about S$466,000, including grants. If it were a resale unit, the price range would be S$630,000 to S$754,000. Those who are starting out in their careers would find these prices challenging and hence end up renting instead.

Next, the pull factor. There is a growing group of financially savvy millennials and Gen Z who might have the means to buy their own home, but choose to deploy their cash in other assets like stocks, currencies, crypto and non-fungible tokens, instead. They do so because they know that these assets would give them a better return for their money compared to tying it up in a home, and end up renting as well.

Mario Singh

Chief Executive Officer

Fullerton Markets


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