Economics
Singapore Unveils Changes to Make Public Housing More Affordable
- Measures to come into effect Sept. 11, Minister Wong says
- Wong also flags more upgrading projects in the coming year
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Singapore may increase its supply of public housing next year as the city-state introduced measures Tuesday aimed at making such homes more affordable.
Minister for National Development Lawrence Wong said the measures would help more Singaporeans from lower to upper-middle income households buy their first homes. The Housing & Development Board, which is the body responsible for public housing, would probably have to increase supply in 2020 to meet the additional demand expected to stem from the changes, according to a joint statement from MND and HDB.