Ministry of National Development, Strategic Communications and Engagement Department
- Consultation Period:
- 28 May 2021 - 30 Jun 2021
The Ministry of National Development (MND) is seeking views from Singaporeans on plans to build new public housing in prime locations, like the city centre and the Greater Southern Waterfront.
Home ownership is one of the key pillars of Singapore’s social compact. About 4 in 5 Singaporeans live in HDB flats, out of which around 90% are home owners.
Many Singaporeans raise our families and enjoy our retirement years in HDB flats. Our HDB towns and estates are places where we foster community bonds and build close ties with our families, neighbours and friends.
At the core of Singapore’s public housing programme are the values of inclusivity, affordability and accessibility. HDB towns should be home to residents from all walks of life; places where we all feel welcome.
At the Committee of Supply Debates in March 2021, Minister for National Development Desmond Lee announced that Singapore will be building public housing in prime locations, like the city centre and the Greater Southern Waterfront. Left solely to market forces, these areas would likely be used for exclusive, high-end housing developments that only the rich can afford, given their attractive locations and attributes.
To keep new flats in these prime locations affordable, additional subsidies will have to be provided, on top of the substantial subsidies already provided for BTO flats today; as flats in prime locations would naturally command higher market values.
These additional subsidies will however, likely also result in larger windfall gains, if these flats are subsequently sold at market value. There is also the concern that these estates in prime locations will become gentrified over time as wealthier residents move in through the resale market. These flats may also transact at high prices in the resale market; and over time only the better-off can afford to buy them.
The Government is determined to prevent the situation where only the wealthy benefit from living in prime locations. We want to keep Singapore inclusive and egalitarian. This would mean fighting against powerful social and economic forces, so that we can ensure our HDB towns remain inclusive, affordable and accessible.
To achieve these objectives, there is a need for a new public housing model for prime locations.
MND has been consulting the public on this issue and has received many suggestions - each with their merits and trade-offs. We will consider a variety of measures as we work to formulate a new housing model for prime locations.
Share your views
We want to hear your views on the new housing model for prime locations, and how we can keep them inclusive, affordable and accessible. We look forward to working with you to jointly create the new housing model that will shape our Singapore for the future.
Share your views through our online survey here by 30 Jun 2021.
If you have other feedback you would like to share on public housing in prime locations, please write to us at email@example.com.