\nThe government has pursued home ownership as a key national policy as it gives Singaporeans a stake in the country, explained Prime Minister Lee Hsien Long.
\n\u00a0Speaking at a book launch held at the National University of Singapore, PM Lee noted that home ownership allows Singaporeans be a part of the economic growth of the country, because as the economy expands, so will their home\u2019s value, reported The Straits Times.
\nMore: Home buyers looking for HDB flats may like to visit our\u00a0Listings
\n\u00a0He added that the government could have very well left the housing market in private hands, such as seen in Hong Kong; or decided to have controlled rents, much like in San Francisco.
\n\u00a0\u201cAs a result, we have improved lives significantly for all. We have avoided the extremes of privation and poverty often seen even in other affluent societies,\u201d he said.<\/p>\n
However, he believes that none of those alternatives could achieve the same social and economic results as home ownership.\u00a0
The government has pursued home ownership as a key national policy as it gives Singaporeans...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-96740","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-pak","jetpack-related-posts":[{"id":143024,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singaporeans-want-to-quit-1-4b-nz-asset-government-investment-corporation-selling-mall-stake\/","url_meta":{"origin":96740,"position":0},"title":"Singaporeans want to quit $1.4b NZ asset: Government Investment Corporation selling mall stake","date":"March 15, 2024","format":false,"excerpt":"\r A non-management stake in five NZ malls with $2.37b annual sales is on the market.\r \r Source : nzherald.co.nz\/Property\r Read more...Singaporeans want to quit .4b NZ asset: Government Investment Corporation selling mall stake","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mainstreaming-hdb-rental-may-reshape-social-norms-weaken-communities\/","url_meta":{"origin":96740,"position":1},"title":"Mainstreaming HDB rental may reshape social norms, weaken communities","date":"November 3, 2021","format":false,"excerpt":"\r Current policies are geared towards enabling home ownership;\u00a0Senior Minister of State for National Development Sim Ann said extending\u00a0public housing rentals to the\u00a0wider populace\u00a0will not be embarked on \u201cwithout deep consideration\u201d. Expanding public housing rentals to the mainstream may alter social norms and weaken communities, reported Channel News Asia (CNA),\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/HDB-flats-in-Ghim-Moh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120563,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singaporeans-call-for-additional-subsidies-to-make-flats-in-prime-areas-more-affordable\/","url_meta":{"origin":96740,"position":2},"title":"Singaporeans call for additional subsidies to make flats in prime areas more affordable","date":"July 5, 2021","format":false,"excerpt":"\r Singaporeans call for additional subsidies to make flats in prime areas more affordableAccording to public\u00a0feedback gathered by the HDB and MND, most Singaporeans want the Government to provide additional subsidies for flats in prime locations.\u00a0 Most Singaporeans want the Government to provide additional subsidies for public housing built within\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/Chinatown-Area-Skyline.original.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":172546,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/glasson-family-buys-49-of-westfield-albany-from-singaporeans-for-308m\/","url_meta":{"origin":96740,"position":3},"title":"Glasson family buys 49% of Westfield Albany from Singaporeans for $308m","date":"September 11, 2026","format":false,"excerpt":"\r GIC sold its stake, while Scentre Group retains 51% and management.\r \r Source : nzherald.co.nz\/Property\r Read more...Glasson family buys 49% of Westfield Albany from Singaporeans for 8m","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118661,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-all-the-more-necessary-amid-economic-crisis-says-desmond-lee\/","url_meta":{"origin":96740,"position":4},"title":"Property cooling measures all the more necessary amid economic crisis, says Desmond Lee","date":"September 17, 2020","format":false,"excerpt":"\r \u201cA home is a big ticket item and it\u2019s for the well-being of Singaporeans that some of the measures are there,\u201d said Mr Lee. National Development Minister Desmond Lee believes the property cooling measures are necessary to safeguard the well-being of Singaporeans by encouraging prudence and caution in long-term\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112933,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/69-of-singaporeans-feel-they-cannot-retire-comfortably-survey\/","url_meta":{"origin":96740,"position":5},"title":"69% of Singaporeans feel they cannot retire comfortably: Survey","date":"December 7, 2019","format":false,"excerpt":"\r 60% of Singaporeans are not prepared for retirement, while 69% feel that they cannot retire comfortably, according to a survey done by digital wealth manager, Syfe, which was published on Wednesday (4 Dec).\u00a0 The survey, which uses an index developed by Syfe to measure retirement readiness at four levels,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96740"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=96740"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96740\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nMore: Can you afford an HDB flat? Check your\u00a0affordability\u00a0now.\u00a0
\n\u00a0PM Lee also rebutted the argument by some commentators that the 99-year lease of Housing Board flats is merely an extended rental.
\nHe described the argument as \u201cfrankly, amazing\u201d, given that many private properties are also on 99-year leases, yet no one argues that they are merely being rented.
\n\u201cHDB lessees have all the rights over their flats that owners of such leasehold private properties have.\u201d
\nHDB owners even enjoy extra privileges as their flats could get upgrades with generous government funding.
\nHDB flats\u2019 99-year lease had been one of the issues addressed by PM Lee at the National Day Rally held on 19 August.
\nEugenia Rosaline Shlaen edited this story. To contact her about this or other stories, email eugenia@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…PM Lee: Home ownership gives Singaporeans a stake in the country<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"