Commentary
* The homeownership rate in Singapore is extremely high at around 90%. This is because the government develops public housing and supplies them to citizens at low prices. This public housing is called "HDB (Housing & Development Board) flat", and the government implements the Central Provident Fund (CPF), a system that forces citizens to save a certain amount of income to purchase HDB housing. According to 2023 data**, 77.6% of Resident Households live in HDB flats, of which 91.3% live in their own properties.
Reference
Reference
Singapore Deartment of Statistisc, Table Builder,
*Resident Households By Tenancy (Data last update: 24 Sep 2024)
retrieved Oct 02, 2024, from here
**Resident Households By Type Of Dwelling (Data last update: 24 Sep 2024)
retrieved Oct 02, 2024, from here
Commentary
The homeownership rate in Singapore is extremely high at around 90%. This is because the government develops public housing and supplies them to citizens at low prices. This public housing is called "HDB (Housing & Development Board) flat", and the government implements the Central Provident Fund (CPF), a system that forces citizens to save a certain amount of income to purchase HDB housing. According to 2021 data**, 78.3% of Resident Households live in HDB flats, of which 90.9% live in their own properties.
Reference
Reference
Singapore Deartment of Statistisc, Table Builder
*Resident Households By Tenancy, data last update - 15 Feb 2022, retrieved Nov 24, 2022, from here
**Resident Households By Type Of Dwelling, data last update - 15 Feb 2022, retrieved Nov 24, 2022, from here
