The Story of Singapore’s Public Housing: From a Nation of Home-Seekers to a Nation of Homeowners

Chapter

Abstract

For many Asian countries facing rapid urbanization and land scarcity problems, providing large-scale affordable housing for urban poor is a challenging task. Singapore has turned itself against the odds since independence by transforming itself from a nation of home seeker to home owner. As in 2011, public housing constitutes 82.65 % of the total housing stocks, and nearly 90 % of Singapore’s households own the houses they live in. The Singapore’s success story of public housing is built on an efficient centralized planning system. The government assumes a wide range of public housing activities from alienating state lands, building flats, allocating tenure to eligible citizens and financing purchase, to enhancing asset wealth. Housing and Development Board (HDB) and CPF (Central Provident Fund) Board are two main public agencies that have been instrumental in implementing various public housing policies in the island-state. This chapter documents key policies and strategies that have helped shaped Singapore’s public housing landscape over the last 50 years.

References

  1. Deng Y, McMillen DP, Sing TF (2012) Private residential price indices in Singapore: a matching approach. Reg Sci Urban Econ 42(3):485–494CrossRefGoogle Scholar
  2. Lee KY (2000) The Singapore story: memoirs of Lee Kuan Yew, vol 2, From third world to first, 1965–2000. Time Media Private Limited, SingaporeGoogle Scholar
  3. Ong SE, Sing TF (2002) Price discovery between private and public housing markets. Urban Stud 39:57–67CrossRefGoogle Scholar
  4. Ortalo-Magne F, Rady S (2006) Housing market dynamics: on the contribution of income shocks and credit constraints. Rev Econ Stud 73:459–485CrossRefGoogle Scholar
  5. Phang SY (2001) Housing policy, wealth formation and the Singapore economy. Hous Stud 16(4):443–459CrossRefGoogle Scholar
  6. Phang SY (2007) The Singapore model of housing and the welfare state. In: Groves R, Murie A, Watson C (eds) Housing and the new welfare state: perspectives from East Asia and Europe. Ashgate, AldershotGoogle Scholar
  7. Sing TF, Tsai IC, Chen MC (2007) Price dynamics in public and private housing markets in Singapore. J Hous Econ 15(4):305–320CrossRefGoogle Scholar
  8. Stein JC (1995) Prices and trading volume in the housing market: a model with down-payment effects. Q J Econ 110:379–406CrossRefGoogle Scholar
  9. Wong A, Yeh S (eds) (1985) Housing a nation: 25 years of public housing in Singapore. Housing and Development Board, SingaporeGoogle Scholar

Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  1. 1.Institute of Real Estate Studies (IRES), Department of Real Estate, School of Design and Environment, NUS Business SchoolNational University of SingaporeSingaporeSingapore
  2. 2.Institute of Real Estate Studies (IRES), Department of Real Estate, School of Design and EnvironmentNational University of SingaporeSingaporeSingapore
  3. 3.Institute of Real Estate Studies (IRES)National University of SingaporeSingaporeSingapore

Personalised recommendations