STUDYING THE ECONOMICS BEHIND PUBLIC HOUSING POLICIES AND GRANTS IN SINGAPORE

Abstract

Singapore is famous for being one of the most expensive cities to live in, while also boasting one of the most successful public housing systems globally. The common idea of public housing in many nations is that they are of low-quality, for the lower-income population and segregated from the bustling city-centre. However, Singapore has managed to debunk these conceptions and provide high-quality housing for its citizens, 80% of which own and live in public housing. Highly expert professionals and intensive government investment are some of many reasons that Singapore has well-planned neighbourhoods, high-quality public facilities and well-drafted policies and grants. This paper aims to provide a comprehensive breakdown of the different policies and grants that helps the Singaporean population with homeownership. This report highlights how the different policies and grants available can help the different categories of homebuyers. Economic analysis of government’s expenditure on public housing will be done, discussing costs, benefits, and externalities. The report will conclude with evaluating the fiscal sustainability of providing such great government expenditure.