Written answer by Ministry of National Development on HDB flats with outstanding mortgage loans
Jul 5, 2023
Question No: 3077
Question by: Mr Chua Kheng Wee Louis
To ask the Minister for National Development
(a) what is the current number and percentage of HDB flats with outstanding mortgage loans;
(b) what is the median and average loan balance outstanding, broken down by mortgage loans owed to (i) private financial institutions and (ii) HDB respectively.
Answer:
As of 1Q2023, there are about 431,000 HDB households with an outstanding housing loan from HDB or financial institutions (FIs). They comprise 41% of all HDB households.
2 The breakdown of the outstanding loan balance among HDB households is in Table 1.
Table 1: Median and mean outstanding loan balance among HDB households (as of 1Q2023)
|
Median outstanding loan balance
|
Mean outstanding loan balance
|
For HDB households with an outstanding housing loan from HDB
|
$119,000
|
$140,000
|
For HDB households with an outstanding housing loan from FIs
|
Data unavailable [1]
|
$231,000
|
Notes:
[1] Data is not available, as data on such housing loans are collected at the aggregate level and not at the individual household level.