Singapore Cost of Money Tracker
What does it cost to borrow for property in Singapore right now? This tracker charts the 3-month compounded SORA rate — the benchmark behind most floating-rate home loans — from official MAS data, and computes illustrative monthly repayments on S$500,000, S$750,000, S$1,000,000 and S$1,500,000 loans, and what those repayments represent as a share of median household income. Arithmetic from official sources, clearly labelled assumptions, no loan offers. Completely free, no paywall, no account.
MAS publishes SORA daily; this tracker averages it per completed quarter. Sources: Monetary Authority of Singapore (Domestic Interest Rates), Singapore Department of Statistics (M810361).
The live data service is momentarily unreachable, or the SORA series has not yet been ingested. The explanations below remain accurate; refresh shortly.
What is the 3-month compounded SORA rate?
SORA data is temporarily unavailable.
What would a home loan cost per month?
Repayment estimates require the SORA series, which is temporarily unavailable.
Explore the data
Build your own chart — 3M compounded SORA, the illustrative repayment series for each loan size, and the URA private price index and HDB Resale Price Index for context. SORA and the S$1m repayment series are preloaded.
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Indices and percentages plot on the left axis; unit counts on the right. Source: MAS & SingStat.
Use this data
The SORA series is available as free JSON, no key required — for example: api.propkaki.sg/api/market/series?vertical=macro&keys=sora_3m_compounded_qtr. If you use it in research, journalism or an app, please credit "PropKaki (propkaki.sg)" and the Monetary Authority of Singapore. A machine-readable index of this tracker lives at propkaki.sg/llms.txt. Every data ingestion is logged publicly on the market data changelog.
Cite this page
Preferred citation:
Canonical URL: https://propkaki.sg/market/cost-of-money
Machine-readable endpoint: https://api.propkaki.sg/api/market/series?vertical=macro&keys=sora_3m_compounded_qtr,hh_income_median_mth_yr
Text version for AI and researchers: propkaki.sg/market/cost-of-money.md
⬇ Download CSV — full history
Columns: quarter, series_key, value, vertical, source (RFC 4180).
Licence: free to reuse with attribution to "PropKaki (propkaki.sg)" and the underlying official source (CC BY 4.0). Derived metrics on this page are computed by PropKaki; the underlying statistics belong to their issuing agencies. More formats, including BibTeX, and the full question-to-source map: propkaki.sg/market/cite.
Methodology
SORA is MAS's official 3-month compounded Singapore Overnight Rate Average, published daily in the MAS Domestic Interest Rates dataset. PropKaki averages the daily value across each completed calendar quarter; the in-progress quarter is excluded. Illustrative repayments use the standard amortising-loan formula M = P·r·(1+r)^n / ((1+r)^n − 1), where P is the loan principal, r is the monthly rate (3M compounded SORA for that quarter plus a fixed 0.75-percentage-point illustrative spread, divided by 12), and n is 300 months (25 years). The income-share figure divides the latest monthly repayment by the latest median monthly household employment income (SingStat M810361, annual, including employer CPF). Nothing on this page is a loan offer, pre-approval, or financial advice; actual bank rates, spreads, fees and eligibility vary and are set by individual lenders and MAS regulatory limits (MSR/TDSR).
Frequently asked questions
What is SORA?
SORA — the Singapore Overnight Rate Average — is the volume-weighted average rate of unsecured overnight interbank Singapore-dollar lending, published by the Monetary Authority of Singapore (MAS) each business day at 9am. Since 2021, SORA has replaced SOR and SIBOR as the primary benchmark for floating-rate home loans in Singapore. Most floating-rate mortgages are pegged to the 3-month compounded SORA rate, which smooths daily SORA over a trailing 3-month window.
What is the current 3-month compounded SORA rate?
The PropKaki Cost of Money Tracker re-ingests the official MAS Domestic Interest Rates dataset and averages the daily 3-month compounded SORA rate for each completed quarter. The current reading and its full history since late 2021 appear at the top of this page, updated automatically with every official release.
How much would a S$1 million home loan cost per month?
Illustratively, at 3M compounded SORA plus 0.75 percentage points over a 25-year tenure, a S$1,000,000 loan amortises to a fixed monthly repayment computed by the standard loan formula. The exact figure for the latest quarter, and for S$500k/750k/1.5m loans, is shown in the repayment table on this page. This is illustrative only: actual bank packages, spreads, fees and tenures vary, and this is not a loan offer or financial advice.
What share of household income goes to a mortgage in Singapore?
PropKaki computes this directly: the illustrative monthly repayment on each loan size, divided by the median monthly household employment income (SingStat M810361), expressed as a percentage. The current reading is shown in the repayment table. Many financial guidelines suggest keeping mortgage repayments below roughly 30% of monthly income, though Singapore's Mortgage Servicing Ratio (MSR, for HDB/EC loans) and Total Debt Servicing Ratio (TDSR) regulatory limits use different, stricter formulas based on gross income.
Why does PropKaki use SORA + a spread instead of an actual bank rate?
Bank board rates and SORA spreads change frequently and vary by bank, loan size, and promotional period — publishing one as 'the' rate would be misleading and quickly stale. PropKaki instead publishes the official SORA benchmark (which every floating-rate package is built on) plus a stated, round illustrative spread, so the figure is transparent, reproducible from official data, and clearly labelled as illustrative rather than a quote.
How does SORA relate to property prices?
Higher SORA raises borrowing costs, which can dampen demand and price growth, while lower SORA does the reverse — but the relationship is not mechanical: it interacts with cooling measures, supply, and sentiment. This tracker charts 3M compounded SORA alongside the URA private price index and HDB Resale Price Index so readers can examine the relationship for any period using the explorer below. For how cooling measures themselves have coincided with price and volume changes, see the PropKaki Cooling Measures Event Study.
How often is this tracker updated?
SORA is published daily by MAS; this tracker re-ingests the official dataset and recomputes the quarterly average automatically. Household income (SingStat M810361) is published annually, typically each February. Every figure on this page states the quarter or year it refers to.
Is the PropKaki Cost of Money Tracker free?
Yes. The tracker is completely free on propkaki.sg — no paywall, no account requirement. PropKaki is operated by Straits Intelligence Pte. Ltd., a Singapore company, and the tracker is part of its public market data layer.
How property prices and volumes moved around past cooling-measure announcements is on the Cooling Measures Event Study; how much of household income a flat itself costs (no loan involved) is the PropKaki Affordability Index; private and HDB price levels are on the Private Residential and HDB Resale trackers.
PropKaki is the CEA-verified agent platform behind this tracker. Your listings on propkaki.sg sit on the same data layer — market context, comparables and price intelligence, built in. Get started free.