Singapore Public Housing Dynamics: Exploring Plausible Future of Public Housing Market

Abstract

Housing Development Board (HDB) flats have become an iconic feature of Singapore’s landscape. Singapore’s government has played a significant role in ensuring that all segments of society are not left out and are empowered to realize their aspirations. One major aspiration of all Singaporeans would be that of home ownership. Ensuring the affordability in homeownership is thus a key policy objective of the Singapore government since her days of inception following independence. This paper mainly focuses on aspects of the property market which are affecting the transaction price of HDB flats in the new HDB flats segment under the Build-To-Order scheme, from system dynamics perspective, which is accomplished via two objectives: (i) evaluating the trend of the recent surge in property prices in Singapore’s property market; (ii) exploring plausible outcomes to the prices of new HDB flats in the future with the continued implementation/ termination/ modification of the ‘cooling’ measures.