Last Update: 3Q2021
NETT Cash = Currency & Deposits Less Liabilites (includes Mortgage and Personal Loans)
- 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)
- 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.
- 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.
- 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.