Also, rent here is so expensive that most Singaporeans still stay with their parents even in their late 20s~30s. (Most people renting a room or apartment are none-Singaporeans (30% of the population).) So buying a house makes perfect economical sense if you are married and can somehow cover the down payment.

I wonder if this is becoming a trend across all first-world countries, as the world gets less predictable and people get more risk-adverse. Esp when rents are driven up by none-citizens so it becomes economical to buy instead of rent.