The Story of Singapore’s Public Housing: From a Nation of Home-Seekers to a Nation of Homeowners
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.
KeywordsPublic Housing Private Housing Housing Wealth Housing Subsidy Private Developer
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