Republic’s model among most successful globally, with almost 100% home ownership: Expert theSun theSundaily affordablehousing property singapore malaysia economy news
Yayasan My First Home fully supports the view of Local Government and Development Minister Nga Kor Ming to seek help from the Singapore Housing Development Board to share its knowledge on affordable housing related issues.
“Based on our previous findings, Singapore managed to provide a good public housing system for its citizens. The data shows that almost 80% of Singaporeans are living in flats that are administered by HDB,” Nambee said. Nambee added that the housing situation in Singapore is unique as the land is owned by the government on a 99-year lease, and this would in return reduce the housing cost and make it affordable.”
Nambee said YMFH believes Nga’s initiative to invite representatives from Singapore is the best move as owning a home should be a fundamental right. He also said YMFH is keen to work with the ministry only if there is intervention from the government to keep the cost low for better home ownership rates, especially among the B40 population.
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