SINGAPOREANS are reducing their spending on everything but home renovations and property, says a new survey.

A recent study on 'consumer purchasing resilience' by MasterCard Worldwide in the Asia Pacific looked at the spending habits of 6,019 people across 14 markets.

The study found that of the 406 Singapore consumers interviewed, most will continue to spend on real estate and home renovations.

Other areas that will see continued, but reduced, spending are fitness and well-being, personal travel and entertainment and dining out. Fashion, accessories and consumer electronics are the products most likely to be cut from Singaporean budgets.

For 35-year-old photographer Alex Wee who is getting married this year, buying a home tops his priority list for spending this year. 'I am hoping that prices will drop to a more affordable level soon with the bad economy,' he said.

MasterCard Worldwide economic advisor for Asia Pacific, Yuwa Hedrick-Wong, said the high rate of home ownership here means that consumers 'will continue to finance their mortgages and spruce up their homes'.

The most recent data from the Housing Board shows that demand for government-built homes is still high.

According to the MasterCard study, consumers in China will continue their current purchasing patterns, as will the Japanese. Indonesian and Indian consumers tied for third position.

Dr Hedrick-Wong said the spending priorities of the Chinese and Indian middle class show that their disposable incomes 'has so far remained healthy'.

The survey was conducted between Sept 1 and 29 last year.