Updated: 12/03/2013 23:48

Value of household financial assets grew more quickly than property assets: MAS



Value of household financial assets grew more quickly than property assets: MAS

The Monetary Authority of Singapore, MAS, says Singapore's household net wealth stood at $1.44 trillion or four times GDP, up 6.5 per cent from a year ago. 

This is broadly comparable to other advanced economies.

Household net wealth is defined as household assets less household debt. 

MAS says it has grown at an average rate of 9.1 per cent a year in the past ten years 

It says the value of financial assets held by households in Singapore has increased more quickly than the value of property assets since the third quarter of last year. 

It says this is partly due to a slowdown in the pace of property price increase, as financial markets remain mostly buoyant. 

The value of financial assets stood at $875 billion, up 7.7 per cent in the third quarter compared to the year ago period. 

In comparison, the value of property assets was $838 billion, 5.8 per cent higher. 

MAS says the growth in the value of liquid financial assets such as cash and deposits, and CPF savings has remained strong, at about 10 per cent.

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