According to an annual wellness survey by OCBC, 56 percent of Singaporeans who are in their 20s are worried that they cannot afford a home.
Overall, the poll found that 38 percent of Singaporeans are worried that they cannot afford a home.
Another worrying trend uncovered related to those saddled with housing loans.
40 percent of Singaporeans are worried that they will not be able to pay their monthly instalments for their mortgage.
This figure is the highest in 4 years, surpassing even the Covid-19 pandemic years of 2020 to 2022.
The figure could be even higher now, seeing how interest rates have spiked after the survey was completed.
At the time of the survey, the 3M Singapore Overnight Rate Average (SORA) was 1.27 percent.
As of 8 Sep, that rate has gone up to 3.69 percent.
