Housing for Singaporeans has been a priority for every PAP government since Independence. This commitment is unwavering. Over this term of office, for example, the PAP government surpassed its target of 100,000 new housing, by launching 102,300 new flats from 2021 to 2025.
During the COS debate, we look at how the government intends to build an affordable and inclusive housing system alongside a sustainable living environment.
Ramping up housing supply
HDB will launch 25,000 flats this year covering a wide range of locations, said Minister for National Development Desmond Lee.
One is at Mount Pleasant, located by the city’s edge and MacRitchie Reservoir. The first of six BTO projects, comprising 1500 units of two to four-room flats, will be launched in October this year, announced Mr Lee.
In addition, the development will include public rental flats to ensure a good social mix. This ensures that Singaporeans of different backgrounds and income levels can live in the same neighbourhood, added Mr Lee.
Keeping housing affordable
More than 8 in 10 first-timer families were able to service their HDB loans using their CPF with little to no cash outlay, said Mr Lee. That remains one of the successes of Singapore’s housing system – allowing Singaporeans to own a home without being weighed down by a heavy mortgage.
Since 2024, the PAP government has also raised the Enhanced CPF Housing Grant. First-timer families now receive up to $120,000 to help purchase their first flat.
As for resale flat prices, Singaporeans can expect prices to stabilise due to a larger supply of resale flats entering the market.
Nearly 13,500 new flats will reach their Minimum Occupation Period (MOP) next year, a jump from 8000 flats in 2025. This and other property cooling measures will continue to work their way through the market and stabilise prices, said Mr Lee.
Helping lower-income Singaporeans buy their first homes
The government is committed to supporting all public rental households on their homeownership journey, said Minister of State for National Development A/P Faishal Ibrahim.
The government has since increased the Fresh Start Housing Grant from $50,000 to $75,000 to make homes more affordable to second-timer families on low income.
From next year, first-timer families staying in rental flats will have the option to buy a two or 3-room flat on a shorter lease. This will benefit those who find it challenging to buy a 99-year lease flat, said Dr Faishal.
Balancing housing and retirement needs
In Singapore, a home is more than a shelter. It can also be used to fund retirement needs.
Currently, seniors moving to a three-room or smaller flat will receive $30,000 in cash as part of the Silver Housing Bonus.
Starting in December this year, seniors will receive an additional $10,000 if they move to a two-room HDB or Community Care Apartment.
The scheme will also be extended to those living in private housing who may be asset-rich but cash-poor. Seniors who right-size from private housing will receive a bonus of up to $20,000 if they purchase a two-room HDB flat or community care apartment, said Mr Lee.
Transforming Singapore into a City in Nature
Our commitment to providing Singaporeans with good, affordable housing, also extends to helping make our neighbourhoods, beautiful places to live in.
The PAP government will continue to expand our green spaces and bring them closer to every resident, said Senior Minister of State for National Development Tan Kiat How.
To date, NParks has achieved its target of developing 130 hectares (or 30 football fields) of new parks by 2026. There are also plans to build 25 new parks and over 50km of park connectors in the next five years. The latter will bring the total length of park connectors to 500km by 2030.
To make our green spaces more accessible and inclusive, the government will incorporate more pro-health features and barrier-free paths into new parks. In addition, a wheelchair-accessible jetty at Pulau Ubin will begin construction this year, allowing more users to explore the island.
The transformation of Singapore’s built environment in the last sixty years is nothing short of a miracle. That is why the government will never stop planning and innovating. The aim is to make Singapore a green, inclusive and liveable city for the ages.
“It is an ongoing journey. Singapore will always be a work in progress. We will continue working with Singaporeans as custodians and stakeholders to shape our social compact and achieve our shared vision to create a home where Singaporeans can thrive…This is our enduring commitment to an endearing home,” said Minister Desmond Lee.
