Source: SingStat

Last Update: 3Q2021

NETT Cash = Currency & Deposits Less Liabilites (includes Mortgage and Personal Loans)

Key Observations

  1. There are 1.37m Households in Singapore based on the latest Census 2020. Which means that the average household’s Nett Cash position is more than $130,000 million. (180,000/1.37)
  2. The last time we were in a Nett Debt position was back in 2006 before the Global Financial Crisis. Since then, we have attracted considerable sums of money.
  3. Ultimately, this data highlights the attractiveness of Singapore as a financial hub where many high net worth individuals choose to call home, and family offices have opened shop.
  4. With such a strong financial backbone it is immediately apparent why even in a protracted Covid-19 crisis, we see little fire sales in property, and at the same time prices of luxury goods are skyrocketing.