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Singapore unveils changes to make public housing more affordable

Bloomberg
Bloomberg9/11/2019 07:16 AM GMT+08  • 2 min read
Singapore unveils changes to make public housing more affordable
(Sept 10): Singapore may increase its supply of public housing next year as the city-state introduced measures Tuesday aimed at making such homes more affordable.
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(Sept 10): Singapore may increase its supply of public housing next year as the city-state introduced measures Tuesday aimed at making such homes more affordable.

Minister for National Development Lawrence Wong said the measures would help more Singaporeans from lower to upper-middle income households buy their first homes. The Housing & Development Board, which is the body responsible for public housing, would probably have to increase supply in 2020 to meet the additional demand expected to stem from the changes, according to a joint statement from MND and HDB.

In Singapore, most people live in so-called HDB flats as opposed to private apartments. There’s a robust pipeline of the latter, with the government in June announcing it would reduce the supply of private housing in the second half.

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