In 2021, the home ownership rate among residents in Singapore was at 88.9 percent, an increase from the previous year. Singapore has high rates of home ownership, despite being among the world’s most expensive property markets.
Singapore’s public housing policy hinges on high rates of home ownership
Home ownership is seen as key to nation-building in Singapore, and thus makes up the core of its public housing policy. The Home Ownership Scheme, introduced in 1964, provides grants and subsidies to Singaporean citizens planning to purchase a housing unit under the management of the Housing Development Board (HDB). As a result, 80 percent of the residents in Singapore live in public housing.
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Singapore Department of Statistics. (February 15, 2022). Rate of home ownership in Singapore from 2012 to 2021 [Graph]. In Statista. Retrieved August 11, 2022, from https://www.statista.com/statistics/664518/home-ownership-rate-singapore/
Singapore Department of Statistics. "Rate of home ownership in Singapore from 2012 to 2021." Chart. February 15, 2022. Statista. Accessed August 11, 2022. https://www.statista.com/statistics/664518/home-ownership-rate-singapore/
Singapore Department of Statistics. (2022). Rate of home ownership in Singapore from 2012 to 2021. Statista. Statista Inc.. Accessed: August 11, 2022. https://www.statista.com/statistics/664518/home-ownership-rate-singapore/
Singapore Department of Statistics. "Rate of Home Ownership in Singapore from 2012 to 2021." Statista, Statista Inc., 15 Feb 2022, https://www.statista.com/statistics/664518/home-ownership-rate-singapore/
Singapore Department of Statistics, Rate of home ownership in Singapore from 2012 to 2021 Statista, https://www.statista.com/statistics/664518/home-ownership-rate-singapore/ (last visited August 11, 2022)