A competitive property market
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| HDB Flats - nearly 1 million Singaporeans live in apartments such as these today |
Singapore has one of the best public housing schemes in the world with nearly 880,000 public flats. More than 80% of the country's population live in affordable and quality flats within safe and self-contained estates. Many first-generation public flats have also been given a face-lift to provide landscaped greens, better access for elderly residents, and better shelter from the tropical weather. Some public flats have even gone upmarket to cater to the needs of residents. For example, executive condominiums are essentially upmarket public flats. But you would hardly be able to tell the difference between such public flats and private condominiums!
But there’s more to the Singapore housing than the ubiquitous public flats. You will also find a gamut of exciting private housing options. From decidedly chic and modern condominium developments to refurbished pre-World War II shophouses, you can be sure to find an address in Singapore that suits your tastes.
Property prices in Singapore have been rising of late but they are still significantly lower than those in Hongkong, New York and Tokyo. The private property index in Singapore is still below the peak seen during 1996.
Apart from releasing more data to help the public decide on property matters, the Government will be stepping up land sales and unveiling more housing options to relieve the short-term crunch.
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