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Most Singapore households remain financially sound in Q1, with net worth up 8.2%: SingStat
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Mortgages have accounted for at least 70 per cent of household liabilities since the first quarter of 1999, notes SingStat.
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SINGAPORE - The financial position of Singapore households generally improved in the first quarter despite elevated inflation and rising interest rates.
Total household net worth, which is defined as assets minus liabilities, was $2.6 trillion in the first three months of 2023 – up 8.2 per cent from the same period in 2022, the Department of Statistics (SingStat) noted. This was a faster pace of growth compared with the last quarter of 2022, when household net worth increased by 6.7 per cent over the same period a year earlier.
