Those million-dollar flats are outliers. Housing remains largely affordable

In a commentary, SMU Celia Moh Chair Professor of Economics Phang Sock Yong discussed the affordability of public housing in Singapore. She emphasised that despite headlines about million-dollar flats in the HDB resale market, it is crucial to maintain perspective. The grants and subsidies available to first-time buyers of both BTO and resale flats help keep public housing accessible for Singaporeans. While housing affordability is a global issue, Singapore’s measures aim to ensure that basic shelter remains within reach for its citizens.