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Housing In Singapore By Talha Lodhi
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Housing In Singapore By Talha Lodhi

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  • 1. HOUSING IN SINGAPORE
  • 2. SEQUENCE
    • HOUSING DEVELOPMENT BOARD
    • POLICIES – IMPLEMENTATION
    • POLICIES – ELIGIBILITY CRITERIA
    • HDB FINANCES
    • GOVERNMENT SPENDING
    • ACHIEVMENTS
    • KNOWLEDGE BASED ECONOMY
    • APPREHENSIONS
  • 3. HOUSING DEVELOPMENT BOARD
    • Responsible for providing basic housing facility to Singaporeans.
      • Builds, renovates, and upgrades the apartment complexes for Singaporeans.
    • Established on 1 st Feburary,1960.
      • Dormant till ’68.
      • 90% of Singaporeans lived in slum areas.
    • A Statutory board
      • Reporting to Ministry of National Development.
  • 4. POLICIES – IMPLEMENTATION
    • Site of construction is identified by Urban Rural Development
      • To de-monopolize HDB's affairs.
    • Construction on acquired land.
      • Compensation, now at market rate.
      • Previously, compensation rate set by the government.
    • One-stop operation.
      • Major mortgage/loan provider bank branches at HDB office.
      • Takes about 4-6 hours for the entire application process to complete.
    • Town councils maintain the estate upon completion of building project.
      • Cont’d…
  • 5.
    • Studio apartments for the senior citizens.
    • Apartment blocks, older than 33 years, demolished for new ones.
      • Residents, moved en'block incase of renovation or up-gradation.
      • New accommodation provided by the govt.
    • No bank loans/sovereign guarantees for the ventures of HDB allowed.
  • 6. POLICIES – ELIGIBILITY CRITERIA
    • An HDB housing applicant;
      • Must be at least 21 years of age.
      • Must form a family nucleus i.e. married.
      • Must be Singaporean by nationality.
      • Must not own any private property
    • Cumulative income cap of household per month is 8,000 SD.
  • 7. HDB FINANCES
    • Total Expenditure – 6.153 Billion SD
      • Capital Expenditure – 2.265 Billion SD (37%)
      • Operating Expenditure – 3.888 Billion SD (63%)
    • Buyer to pay for the price as fixed for a particular apartment.
      • Usually financing it via CPF.
  • 8. GOVERNMENT SPENDING
    • Government grants cover HDB’s annual deficit.
      • Government bail-out, necessitated every year since HDB’s formation.
      • Cumulative grant by government since its inception has been 17.241 Billion SD.
      • Net deficit for FY 2007/08 was 1.081 Billion SD.
    • Expenditure on infrastructure and estate up gradation.
    • Grants to Town Councils for estate maintenance.
    • Rebates on;
      • Service and Conservancy charges
      • Rental charges.
  • 9. ACHIEVMENTS
    • House ownership in Singapore - 90.1%
      • Highest in the world.
      • 82% stay in HDB provided flats.
        • 80% - house owners
        • 2% utilizing house rental facility.
      • 982,036 flats for Singaporeans by HDB.
    • Apartment flats at subsidized rates.
      • 2,3,4 bedroom and executive flats.
      • 70% of Singaporeans own 3-bedroom apartment
    • Rental flats for those who cannot afford to buy a HDB-house.
    • UN Public Service Award in 2008
      • Achievements of House Ownership Program .
    • UN World Habitat Award in 1991.
      • Approach in creating vibrant towns and communities.
  • 10. KNOWLEDGE BASED ECONOMY
    • A key side-beneficiary of house ownership scheme.
    • Owing a house, difficult for an individual to migrate from Singapore.
      • Putting a cap on brain drain.
    • Ensuring investment retention in Singapore.
      • Curbing the locals from leaving Singapore.
    • Economic boost associated with Housing has been due to;
      • Construction activities.
  • 11. APPREHENSIONS
    • HDB, as a major player in real-estate may easily manipulate the market prices at the time of acquisition.
    • Private sector investment in Housing sector extremely low
      • Owing to activism and monopoly of HDB.
    • Standard of houses being provided cannot be subject to competitive challenge.