The Economy of Singapore
Public Housing for Most: HDB
Around eight in ten residents live in flats built by the Housing and Development Board, with ownership on long leases.
Housing is a central part of the story.
Scale
The HDB was set up in 1960, and most residents live in its flats, mostly owned rather than rented.
Leases
Flats are on 99-year leases, and their value depends on remaining lease.
Mix
Ethnic integration quotas aim to prevent ethnic enclaves.
Asset ownership
Home ownership gives families a stake in the country’s success.
A block of flats
Residents of different backgrounds share lifts, playgrounds and hawker centres.
Assuming public housing means poor housing
HDB flats are of a wide range of quality.
Key takeaways
- Most live in HDB flats.
- Leases run 99 years.
- Quotas mix ethnic groups.
- Ownership builds stakes.
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