Singapore, 07 Oct 2021 The government wants to bring public housing – the affordable housing that more than 80 percent of the city’s population lives in – to the financial district. In an article for the Straits Times in June, Second Minister for National Development Indranee Rajah wrote that prime location housing should not be “restricted to the rich and affluent.”
The public housing model in Singapore will need adjustments to function in such an expensive area. But there are dilemmas like ensuring houses stay affordable and that owners don’t buy units just to pay them off, Rajah said. The authorities are currently examining the plans and consulting the public.
City center houses could appeal to younger Singaporeans in particular, said Christine Sun, senior vice president of research and analytics at Singapore-based real estate firm OrangeTee & Tie. Schools, outdoor play areas and cheaper restaurants are also needed to cater to this demographic, she added.