S'pore average household wealth per adult up 7.1% p.a. in la

[Enye]

if you have 4 adults in your household, congratulations you are a US$ millionaire household.

 

Also average singaporean household only have little debt despite high COE and property prices.

 

But i have a question, what is the definition of non financial asset?

 

FROM BT

THE average household wealth per adult here jumped 129 per cent from US$112,800 (S$138,654) in 2000 to US$258,117 in the middle of this year.

 

Credit Suisse Research Institute, announcing the figures on Wednesday, said this made for an average increase of 7.1 per cent a year.

 

In its latest annual Global Wealth Report 2012, it said Singapore's average wealth per adult puts the country as the third wealthiest nation in the Asia-Pacific, and eighth globally.

 

Here, more than 80 per cent of the population have assets above US$10,000; 48 per cent have assets above US$100,000.

 

Household total assets here are divided roughly equally into financial assets (48 per cent) and non-financial assets (52 per cent).

 

The average household debt of US$45,600 is moderate for a high-income country, equating to 18 per cent of net wealth; the average is 20 to 30 per cent of wealth in advanced economies.

 

As a nation, Singapore's total wealth shrank by US$25 billion or 2.5 per cent to US$1 trillion in the past year, mainly due to reduction in household financial assets measured in USD.

 

Globally, aggregate global household wealth fell 5.2 per cent or by US$12.3 trillion in current dollar terms to US$223 trillion between mid-2011 and the middle of this year, due to the Eurozone debt crisis and the global economic slowdown.

 

The report also noted that the Asia-Pacific overtook Europe as the world's largest wealth holding region in current dollar terms by the middle of this year, after Europe lost household wealth of US$10.9 trillion

 

[Felipe]

I tend to find the term average suspicious. Median is a more accurate portrayal.

[Happily1986]

I tend to find the term average suspicious. Median is a more accurate portrayal.

 

ditto. i wonder whats the point of such new articles.

[Wyfitms]

wow. ppl living in sg are so rich.

 

Kudos to govt. No wonder they can claim to have scored 99 marks.

[Dice]

errrr.... quote

"Here, more than 80 per cent of the population have assets above US$10,000; 48 per cent have assets above US$100,000."

 

very inaccurate leh, smelly smelly we should see more than 48% have asset more than usd100k since our hdb very the valuable one, oh wait maybe it's correct coz the other 52% non-singaporean hahaha...

 

but the average household wealth per adult is dubious leh, ok not in my househole hahahaha... in other hole maybe

Edited October 11, 2012 by Dice

[Timbuktu]

The average household debt of US$45,600 is moderate for a high-income country, equating to 18 per cent of net wealth; the average is 20 to 30 per cent of wealth in advanced economies.

Huh?

Not with people nowsaday buying $1M HDB flats and taking 60-80% bank loans!

 

Average household debt of US$45K only?

Gotta be joking right?

That's not even enuf for a Cat A COE ... don't talk about the car!

 

Then there's the condo ... DBSS ... BTO - with up to >$100K COVs!!!

 

[The_Bear]

Yesterday i have $10. After reading the report, i still have $10.

[Icedbs]

>>>The average household debt of US$45,600 is moderate for a high-income country

 

Is the above true? Only USD45k debt per household? So almost everyone has their house paid off fully?

 

I find that very hard to believe.

[Joseph22]

Yesterday i have $10. After reading the report, i still have $10.

you fair better than me.

 

after reading this report. i loss $10.00 to internet bill

[Enye]

>>>The average household debt of US$45,600 is moderate for a high-income country

 

Is the above true? Only USD45k debt per household? So almost everyone has their house paid off fully?

 

I find that very hard to believe.

 

 

Obviously Credit Suisse's definition of an AVERAGE Singaporean household is a table wiper's household

 

use cash to buy things, no debt.

 

[Enye]

Yesterday i have $10. After reading the report, i still have $10.

 

you forgot to include your non financial assets....whatever that is.

 

[Wyfitms]

Obviously Credit Suisse's definition of an AVERAGE Singaporean household is a table wiper's household

 

use cash to buy things, no debt.

 

 

yep, what's more average than a table wiper. Or dish washer.

[The_Bear]

you forgot to include your non financial assets....whatever that is.

 

 

I think they are referring to my Hello Kitty collection and Thomas the Train sets. never knew they are worth so much....

[ShepherdPie]

>>>The average household debt of US$45,600 is moderate for a high-income country

Is the above true? Only USD45k debt per household? So almost everyone has their house paid off fully? I find that very hard to believe.

 

Actually why not ? Most hdb are fully paid off i.e. our parents generation. Those that bought 10 yrs back also complete their loan obligation.. 200-300k of HDB loan, not difficult to clear with dual income. Its those that sell and buy, that are in debts..And that's not majority of the sg.

 

CPF accounts of sg also "bao bao".

[Wt_know]

huat ah !!! ... where is my sa pak ching???

but if count hdb that i'm living in ... it's $400k ... huat ah !!!

sell liao can sleep at honglim park?

 

Singapore adults have been ranked the eighth wealthiest people in the world, ahead of counterparts in the United Kingdom and Sweden.

 

The average wealth of an adult Singapore resident stood at S$317,000 in 2012, up from $138,665 in 2000, according to a Credit Suisse study. Most of the rise is due to the saving rate and asset price increases rather than exchange rate movements, the study said.

 

 

http://sg.finance.yahoo.com/news/pore-adul...-155515344.html

Edited October 12, 2012 by Wt_know

[Little_prince]

huat ah !!! ... where is my sa pak ching???

but if count hdb that i'm living in ... it's $400k ... huat ah !!!

sell liao can sleep at honglim park?

 

Singapore adults have been ranked the eighth wealthiest people in the world, ahead of counterparts in the United Kingdom and Sweden.

 

The average wealth of an adult Singapore resident stood at S$317,000 in 2012, up from $138,665 in 2000, according to a Credit Suisse study. Most of the rise is due to the saving rate and asset price increases rather than exchange rate movements, the study said.

 

 

http://sg.finance.yahoo.com/news/pore-adul...-155515344.html

 

hmm... if includes asset like HDB then probably close to that.

 

1 average hdb already 500k. average husband and wife abt 250k each. + cash/shares etc 50k each for 30 year old.

 

300k is reasonable. seems about right. no meh?

[ShepherdPie]

huat ah !!! ... where is my sa pak ching???

but if count hdb that i'm living in ... it's $400k ... huat ah !!!

sell liao can sleep at honglim park?

 

Singapore adults have been ranked the eighth wealthiest people in the world, ahead of counterparts in the United Kingdom and Sweden.

 

The average wealth of an adult Singapore resident stood at S$317,000 in 2012, up from $138,665 in 2000, according to a Credit Suisse study. Most of the rise is due to the saving rate and asset price increases rather than exchange rate movements, the study said.

http://sg.finance.yahoo.com/news/pore-adul...-155515344.html

 

if your household asset average is less than below 300k, you are living in btw the cracks.. Even cleaner auntie in my office has a flat fully paid off and goes for 2-3k holiday yearly..

Edited October 12, 2012 by ShepherdPie

[Wt_know]

wah ... your cleaner is tok kong ... fully paid hdb ... can anytime cash out $250k

 

if your household asset average is less than below 300k, you are living in btw the cracks.. Even cleaner auntie in my office has a flat fully paid off and goes for 2-3k holiday yearly..

Edited October 12, 2012 by Wt_know