20,000 people own 3 to 10 private homes in S’pore: Ministry

Only a few people own over 10 private homes in Singapore, revealed the Ministry of National Development.

Fewer than 200 people currently have more than 10 private residential properties in Singapore, according to a written answer from the Ministry of National Development released on Monday (5 February).

It stated this in response to a query from Gan Thiam Poh, MP for Ang Mo Kio GRC, who also asked about the current number of individuals who own a specific number of private units.

“About 381,000 Singapore citizens, permanent residents, and foreigners own one private residential property in Singapore. About 59,000 own two (and) 20,000 own three to ten private residential properties,” replied the Ministry.

“Of these private residential property owners, 15 percent also own an HDB flat,” it said in response to another question from Gan, who worked as a Senior Vice-President at DBS Bank.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg