Singapore Household Wealth Top 20% Reaches SGD5.3m on Property-Led Gains

Singapore household wealth top 20% averaged SGD5.3m (USD3.9m) in 2023, driven mainly by property assets worth SGD3.4m, the Ministry of Finance said in its first comprehensive release of household wealth data.

The ministry defines net wealth as total assets minus liabilities, with assets spanning property, net CPF balances and other financial assets, while liabilities are largely mortgages.

Across all wealth groups, home equity and CPF balances were the biggest components, and most households had positive net wealth, MOF said, estimating overall average net wealth at SGD1.76m.