Meanwhile, the minimum qualifying salary for S Pass holders will increase from $3,300 to $3,600. S Pass holders in the financial services sector will similarly face a higher minimum qualifying salary than those in other sectors, which is set to rise from $3,800 to $4,000.
The increase in qualifying salary for Employment Pass (EP) and S Pass holders, announced at Budget 2026, may influence the hiring of foreigners. This may have a knock-on impact on tenant demand for both HDB flats and private residential properties, says Mark Yip, CEO, Huttons Asia.
The minimum qualifying salary for EP holders will increase from $5,600 to $6,000, announced Prime Minister and Finance Minister Lawrence Wong at Budget 2026 on Feb 12. EP holders in the financial services sector will maintain a higher minimum qualifying salary, which will rise from $6,200 to $6,600.
