SINGAPORE | HOME OWNERSHIP RATE
I went on a study tour to Singapore with a busload of architecture students from Malaysia and Korea. Among the places we got briefings were the Urban Redevelopment Authority, Housing Development Board and Zero Energy Building.
One fact that really impressed me was that Singapore already has the second highest home ownership rate at 90.7%. Second only to Romania at 96.4%.
By contrast, all land in Hong Kong (except for an old church) is owned by the state and leased out to developers on 50-year tenures. As developers need to bid for these development lots, the prices shoot sky high due to limited supply. I visited an apartment occupied by a Japanese expat family in Hong Kong - really tiny. Also visited the Walled City - really crazy place!
https://www.channelnewsasia.com/news/singapore/home-ownership-hdb-helps-singaporeans-build-assets-pm-lee-10648722
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