Singapore Public Housing Ownership Dynamics

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The findings refute the market-force hypothesis and affirm that the flat upgrading hypothesis is attributable to capital appreciation through selling in the resale HDB market. Such public housing upgrading policy contribute to the upgrading of flats and properties among HDB owners,. Such policy also provides incentives for non- homeowners to make the first move in realizing the “Singapore Dream” of full home ownership. Furthermore, the simulations reiterate that too few or too many institutional changes in response to market adjustments render the HDB system unhealthy. The former induces fluctuating demand while the latter likely generates extra administrative cost, causing long-term adverse effects on the financial position of theHDB ownership.

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