How much income do you need to buy a condo in Singapore?
PropKaki computes this quarterly from real URA caveats — the island-wide median transacted PSF for private condominiums (Apartment + Condominium, non-EC, non-landed) — combined with MAS TDSR guidelines and SingStat household income data. Not financial advice.
At a glance
Based on PropKaki's island-wide median transacted PSF of S$2,152/sqft for private non-landed condominiums (Q1 2026, from URA caveats), a typical 85 sqm (915 sqft) unit is priced at approximately S$1,968,897. Under MAS TDSR guidelines (55% TDSR ceiling, 4% stress-test rate, 75% LTV, 30-year loan, no existing debt), the minimum gross monthly household income required to qualify is approximately S$12,800/month. Singapore's median household monthly income is S$12,027/month (SingStat 2025), meaning the typical condo requires roughly 1.1× the median household income to qualify under MAS rules. These are estimates for planning purposes only, not financial advice.
Key figures — Q1 2026
Assuming a typical 85 sqm (≈ 915 sqft) unit, 75% LTV (25% downpayment), 30-year loan, and no existing debt obligations.
Figure
Value
Note
Median island-wide condo PSF
S$2,152/sqft
URA caveats, non-landed, Q1 2026
Est. price (85 sqm unit)
S$1,968,897
PSF × 915 sqft
Min. income to qualify
S$12,800/mth
MAS stress-test rate 4%, 55% TDSR
Est. monthly repayment
S$5,705/mth
SORA 1.13% + 1.2% spread (Q1 2026)
Repayment as % of median income
47% of median income
Median HH income S$12,027/mth (SingStat 2025)
Estimates only — not financial advice. Min. qualifying income uses the MAS 4% stress-test rate and assumes zero existing debt. Actual qualifying income depends on your individual credit profile, existing liabilities, and the lender's assessment. Est. monthly repayment uses SORA + 1.2% illustrative spread — your actual rate will differ. Consult a licensed mortgage broker or financial adviser for personalised guidance.
Can a median-income household afford a condo?
Singapore's median gross monthly household income is S$12,027/month (SingStat, incl. employer CPF, 2025). The MAS qualifying income threshold for a median condo is approximately S$12,800/month — about 1.1× the median household.
This means a median-income household — on its own — falls below the qualifying threshold for the island-wide median condo under MAS rules with no existing debt. In practice, many buyers combine incomes (dual-income household), apply CPF Ordinary Account savings toward the downpayment, or target smaller units or outer-region districts where PSF is lower. The district-by-district breakdown shows that several OCR districts are accessible at lower income thresholds.
Median condo PSF and required income — last 8 quarters
How the island-wide median PSF — and the MAS qualifying income it implies — has moved over the past two years.
Quarter
Median PSF (S$)
Est. price (85 sqm)
Min. qualifying income
QoQ
Q1 2026
2,152
S$1,968,897
S$12,800/mth
−3.1%
Q4 2025
2,220
S$2,031,126
S$13,200/mth
+3.9%
Q3 2025
2,136
S$1,954,156
S$12,700/mth
+9.4%
Q2 2025
1,952
S$1,785,998
S$11,600/mth
−9.4%
Q1 2025
2,155
S$1,971,752
S$12,800/mth
−0.1%
Q4 2024
2,156
S$1,972,786
S$12,800/mth
+16.6%
Q3 2024
1,849
S$1,691,954
S$11,000/mth
+3.5%
Q2 2024
1,786
S$1,634,126
S$10,600/mth
—
What drives condo affordability in Singapore?
The income required to buy a condo is driven by three variables: the transaction price (PSF × unit size), the prevailing mortgage rate, and the MAS TDSR ceiling. PSF has been the dominant driver since 2021 — URA's private residential price index rose over 40% between 2020 and 2024, far outpacing income growth. The PropKaki Affordability Index tracks the equivalent measure for HDB resale flats, where income data is more directly matched to HDB transaction data.
The TDSR framework means that as mortgage rates rise, the qualifying income threshold does not rise proportionally — because lenders use the MAS 4% stress-test rate, not the prevailing SORA rate, for qualification. However, the actual monthly repayment (and therefore the real cashflow burden) does move with SORA. The figures above show both: the qualification threshold (stress-test rate) and the current repayment estimate (SORA + spread).
The island-wide median PSF blends all 28 districts and all sub-markets — mass market OCR, mid-tier RCR, and prime CCR. For district-specific income requirements, see the district-by-district income guide.