IMPACT OF THE REVISION OF SINGLE SINGAPORE CITIZEN SCHEME ON THE HDB RESALE MARKET

Abstract

The revision to the Single Singapore Citizen Scheme, which now allows singles to purchase HDB resale flats of any size, is bound to shift the demand patterns in the HDB resale market, particularly with current homeowners' rising aspirations. This study thus serves to investigate this change in the demand patterns by interviewing these singles on their preferred flat-type; as well as to ascertain the housing attributes deemed important in their choice of housing. The Chi-Square test and Kendall Tau statistic were used in analyzing the correlation of the singles’ profile and their desired housing choice while the mean value of the various housing attributes was obtained to determine the level of significance. Based on a sampling frame of 200 respondents, one key finding of this study suggests that most singles prefer living in bigger HDB flats with slightly lesser singles favouring three-room flats. The singles' monthly incomes have the greatest bearing on their desired flat-type, connoting that those with a higher monthly income are more likely to purchase bigger units. In addition, the singles' age, qualifications, current flat-type and the total number of people living in the flat has a direct influence on their housing choice, even though the association is a rather weak one. This research also reveals that affordability is reckoned to be the most important factor influencing the singles' choice in housing, followed by locational aspects and physical housing features. This study has therefore shed light on the singles’ housing needs and demands.