Millennials faring better in real estate ownership

Singaporean millennials are proving to be focused savers and very astute in going after the most competitive mortgage rates. On average, these owners took five years to save for a deposit, less time than baby boomers (six years) and Gen X-ers (seven
Singaporean millennials are proving to be focused savers and very astute in going after the most competitive mortgage rates. On average, these owners took five years to save for a deposit, less time than baby boomers (six years) and Gen X-ers (seven years), according to the HSBC survey.ST FILE PHOTO

Survey finds they take shorter time to save for housing deposit than other cohorts

Millennials - those aged 21 to 36 - are more likely than most generations here to own multiple properties while also being the quickest to save for housing deposits.

The findings from new research note that this group are in a stronger position in terms of real estate ownership than many would assume.

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A version of this article appeared in the print edition of The Sunday Times on July 15, 2018, with the headline 'Millennials faring better in real estate ownership'. Print Edition | Subscribe