Singapore's household net wealth rose 9%, reaching nearly $3 trillion, despite rising debt.

The Monetary Authority of Singapore (MAS) reported that despite a rise in household debt, financial assets like cash and stocks grew faster, with household net wealth up 9% to nearly $3 trillion. Mortgage rates have dropped, improving debt servicing. The MAS noted that while risks are contained, households should stay cautious due to global economic challenges and geopolitical uncertainties. Companies and financial institutions have strong buffers but may face pressure if the global outlook worsens.

November 27, 2024
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