Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222165
Title: PUBLIC RENTAL HOUSING PREFERENCE AND AFFORDABILITY LEVEL IN SINGAPORE
Authors: NEO HUI XIN JOYCE
Keywords: Real Estate
Issue Date: 1-Jun-2010
Citation: NEO HUI XIN JOYCE (2010-06-01T09:23:35Z). PUBLIC RENTAL HOUSING PREFERENCE AND AFFORDABILITY LEVEL IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: Since the 1960s, the government has been actively involved in promoting home ownership. To address the issue of low-income households not being able to afford an owner-occupied home, 10,000 low cost housing were built in the 1960s (Goh, 1988). As of today, home ownership has grown to more than 80% of the population. Nonetheless, a decrease of public rental flats from 54,430 (HDB Annual Report 2004/2005) to 46,013 (HDB Annual Report 2008/2009) was recorded over the years. This study aims to identify low-income households’ housing preferences provided by the government. It also seeks to examine the affordability levels of low-income households purchasing 2-room rented, new 2-room flats or 2-room resale flats in the open market. Demographic factors and current living conditions were studied and these factors played a part in respondents’ housing preferences towards upgrading. The binary logistic regression model was used to identify the relationship between housing preferences, demographic factors together with other dwelling information. Debt service ratio was used to examine the affordability level. The findings showed that low-income households preferred to remain in their current rented unit due to good housing conditions and the familiarity of their neighbourhood. Also, new 2-room flats and 2-room resale flats with 30 years loan are affordable for low-income households. Although there is evidence that public rental housing scheme is affordable for low-income households, the 30% international benchmark should be reconsidered in examining affordability level for public rental housing. As for housing preferences, reviewing the housing needs of low-income groups is timely as the widening income gap becomes more evident.
URI: https://scholarbank.nus.edu.sg/handle/10635/222165
Appears in Collections:Bachelor's Theses

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