Housing Development Board Affordable housing
The prices of new HDB flats are too high. Even after a large government grant, the net cost to the buyer will take away a large part of the CPF savings and disposable income. One factor for the high price is the need to pay for 99 years of the lease of the flat. 

The government can make housing affordable by adopting this approach:

a) They can provide new or pre-owned HDB flats and offer them for rental at 15% to 20% of the income of the family.

b) They can provide these rental flats at low cost because the government owns most of the land in Singapore (obtained though compulsory acquisition at low cost)  and can build the flats economically through economy of scale.

c) For people who prefer to "own" the flats, they can offer them for short leases from 20 to 50 years. There is no need to force the buyers to take a 99 year lease, as they will not live so long. When their lease expires, they can extend the lease or revert to rental flats.

d) There is no need to force workers to contribute a large part of their earnings to CPF for the purpose of home ownership. This contribution can be taken out, so that the workers can use it to pay for the rental or for purchase of a lease. 

By reducing the cost of housing, the cost of living will be much lower. Singapore does not need to have the highest cost of living in the world. With more disposable income, the standard of living can improve for the citizens. Maybe, it will also help to increase the birth rate in Singapore .

Tan Kin Lian 

Vote - do you agree with this approach to provide affordable housing?
 

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