Housing Dreams & Career Choices: What Singapore’s Affordability Ranking Really Means

GeneralSeptember 01, 2025 09:00

Did you know? Singapore just landed 17th place in the Global Housing Affordability Index — a surprise to many who think our homes are among the priciest in the world. But before you picture yourself living in a shoebox flat with no space to swing a cat 🐱, let’s break down what this ranking really means and why it matters for your career, pay, and future planning.

Fun Facts About Singapore Housing 🏠

  • Over 80% of Singapore residents live in HDB flats — making us one of the highest public housing ownership countries in the world.
  • The largest HDB town is Tampines, home to over 260,000 residents (that’s bigger than some small countries!).
  • In 2024, a 5-room flat in Queenstown set a resale record at over S$1.5 million — proof that some HDBs are basically luxury condos in disguise.
  • Our iconic Dragon Playground in Toa Payoh is so famous it’s featured on souvenirs and even tattoos.

These little nuggets show how housing is more than just bricks and mortar — it’s tied to culture, identity, and even nostalgia.

Why Housing Costs Matter to Your Career

It’s simple: when housing costs eat up a large portion of income, workers tend to:

  • Stick with stable jobs instead of riskier start-ups.
  • Place more value on employers that offer strong career progression and bonuses.
  • Delay mid-career switches or passion projects because of financial obligations.

MOM data shows that in 2024, real median income grew by 2.8% after inflation — helpful, but not quite enough to outrun fast-rising housing prices in some areas.

So, Is Singapore Really Expensive?

Ranking 17th means Singapore isn’t the worst globally (Hong Kong, Sydney, and Vancouver take that crown). In fact, compared to many major cities, our public housing policies keep ownership attainable for most locals.

The surprise is that our affordability is better than expected, especially when you factor in CPF housing schemes and grants for first-time buyers. For foreign talent, however, renting can still be a heavy financial consideration — shaping where they work and live.

What Employers Can Do 🏢

Companies in Singapore looking to stand out can tap into this reality by:

  • Offering housing-related perks (relocation support, rental subsidies for expats).
  • Providing financial wellness workshops to help employees balance housing and retirement goals.
  • Ensuring career pathways with sustainable wage growth — because workers know housing costs aren’t standing still.

What Workers Can Do 👩‍💼👨‍💼

If you’re worried about “home sweet home” turning into “home sweat loan”:

  • Upskill into high-demand fields (AI, green jobs, finance) where pay growth is strongest.
  • Plan your CPF usage wisely — balance between buying a home and saving for retirement.
  • Don’t be shy to negotiate benefits beyond salary, especially if housing eats up your budget.

FAQ: Housing & Careers in Singapore

Q1: Is housing in Singapore really affordable?

It’s relative. Compared to Hong Kong, we’re doing better. But affordability challenges remain, especially for young buyers entering the market.

Q2: Does housing affect my career?

Yes! Mortgage or rental costs can influence the jobs you accept, the risks you take, and the industries you pivot into.

Q3: Do companies actually help with housing costs?

Some do — especially MNCs hiring expats. More local employers are now adding financial wellness programmes instead of direct subsidies.

Q4: What if I feel priced out?

Upskilling, using CPF grants, and looking for jobs with strong wage progression are the best long-term plays.

Final Thoughts

Singapore’s ranking at 17th place in housing affordability might raise eyebrows, but it also proves how policies and planning make a difference. For workers, it’s a reminder to think about careers in tandem with housing and financial goals. For companies, it’s a wake-up call to support employees beyond the paycheck.

At Reeracoen, we believe your career should support your life goals — including housing dreams, whether that’s a BTO in Tengah 🌳 or a chic condo by the bay.

 

👉 For Employers: Build stronger teams with us

👉 For Jobseekers: Explore opportunities that fit your future

 

 

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