The Singapore General Election has concluded, and many people are expressing vocal displeasure regarding the expected results. Here are my thoughts, coming from a naturalized citizen with quite a fair bit of traveling experience to other states, based on my interaction with the locals of the area, without doing much fact check but just a general sense of the situation :
COMPARISON OF HOUSING SITUATION OF SELECTED CITIES
Hong Kong Housing Situation :
> Land Scarcity by Design : Only 7% of Hong Kong’s 1,100 km² land is developed into housing, despite plenty of undeveloped or underutilized land, the government controls land scarcity, because up to 50% of HK government revenue depends on land sales, leases, and related taxes. Politically, this follows a statist capitalist model: the state behaves like a corporate landlord, monopolizing land to extract maximum rent from private enterprise.
> Hyper-Capitalism and Inequality : Median wage in Hong Kong is around HKD $19,000/month (~USD $2,400), but property prices are wildly disproportionate, to purchase a modest 300 sqft unit, it costs HKD $3 million (~USD $380,000), renting even a basic private unit would cost HKD $8,000–$10,000/month, about half of an average worker’s salary, trapping many in a rent burden cycle (where >30% of income is spent on housing). This reflects "Global City Squeeze", where global capital inflates costs without matching local wage growth.
> Urban Solutions to the Housing Crisis : Rise of the Cage Homes, to afford a living space, many private home owners sublet their housing space by dividing into smaller compartments, some units contains up to five persons into 100 sqft "Cage Homes", caged in order to lock their personal belongings since your roommate are strangers, and yet this is still at about HKD $2,000/month.This is a legal arrangement as long as a living space is above 20 sqft. Similarly, a family may rent a full unit to be divided by wooden or cardboard divders thus the term Coffin Homes, where they eat, sleep, hang laundry, children studying, all in one of that 300 sqft unit. This loophole is a state-managed informal sector: the government tolerates micro-or-nano-apartments to reduce visible homelessness while avoiding expensive systemic reforms. As I visit the famous Yick Cheong Building ("Monster Building", where 10,000 people squeezed into aprroximately 15,000 square metres space, showcase extreme urban density and the phenomenon of "Dead Person Cosmetics" — cheap, quick renovation of crumbling buildings to resell or rent for profit. Since this is privatised, it is impossible to get residents to chip in for renovations and upgrades so the space is usually run down and in bad condition. Everyone wants to sell for profit, and many temporary tenants that dont care about conditions. Alot of singles use this for temporary houses. Apart from these solutions, some owners would do "Time Share", where spaces are fragmented into micro-dorms and hostel beds, for temporary residents or domestic workers.
> Hidden Poverty : Officially, 25% of Hong Kong’s population lives under the poverty line, but you rarely see visible slums on streets due to government strategies like subdivided flats and rooftop settlements therefore "Rooftop Slums". This "invisible poverty" is a hallmark of neoliberal urban governance: the city prioritizes external image (global finance hub) over internal social welfare.
> Public Housing : Public Rental Housing is about half the private market price and offers three times more living space, however, only about 30% of Hong Kong residents live in public housing as the waiting times average 5 – 6 years.
Seoul Housing Situation :
> South Korea, another Asian Tiger Economy, has a different approach to housing. having 26 million population in the Greater Seoul Metropolitan Area of 600 square kilometres, the Korean government started building apartment blocks called apateu, 아파트. Unique to Korea, "cheonse" is a rental model where tenants deposit a lump sum (50–80% of property value) instead of monthly rent. Landlords invest this deposit to earn returns. After 2 years, they return the deposit, which is KRW 450 – 700 million (USD $300–500K).
> In response to severe affordability issues, the government implemented Price Caps on new apartments. This results in a shrinking housing supply because of the reduced incentive for Private Developers to build or even to maintain houses. Therefore those that got the "Lottery" of a new apateu would generally resale for much higher value therefore exacerbating disparity. Over time, demand outpaces supply, ironically raising prices elsewhere, or delaying the entry of young people into homeownership, therefore only half of the population gets home ownership.
> An average home price of 1,000 square feet will cost about KRW900 million (USD$650,000), in comaprison to the average monthly salary of KRW3.5 million (USD$2,500), with a National Tax of 15% - 24% and an additional of 10% fixed Income Tax.
Munich Housing Situation :
> Munich, a popular destination and terms one of the most livable cities in Germany, of 1.5 million population in the 300 sqaure kilometres space, has 30% non locals, and 30% students too. It has an average monthly income of Euro $6,000, and a cost of Euro $800,000 for a 1,000 square feet apartments. Ownership is at 25% due to the high cost of housing prices, which drives 600,000 homelessness, in which half are supported by public services. Tax wise, this is too complicated for me to comprehend due to the different set of laws for many individualised criteria, but effective tax is at about 30%.
> Wallerstein Core-Periphery logic explains Munich’s magnetic pull: As a “core city” in the global capitalist system, Munich extracts labor, capital, and talent from semi-peripheral regions (e.g., Eastern Europe, East Germany). Accumulation by Dispossession is visible when inner-city properties are bought by global investors; social housing stock is privatized or underfunded; and lower-income renters are displaced to peripheries. Ecological Differentiation therefore exist amongst the neighbourhoods.
> Resistance to building new affordable housing is often driven by NIMBYism (Not In My Backyard) from existing homeowners. Therefore local policymakers cater to voting homeowners rather than non-owning renters, creating a democratic deadlock, meaning the priority is always on the "haves" and the "have-nots" are completely ignored.
> Munich seems to me like a neoliberal city in a social democracy, caught between ideals and capital. It is a tech-focused global city competing for talent, but failing to house its essential workers.
Los Angeles Housing Situation :
> Hollywood, Pop Culture, Palm Trees and Blue Skies, are the image of LA. LA city itself has about 4 million population in the 1,300 square kilometres space. With monthly average salary of USD$6000, and effective tax of 30%, houses are not as scarce as many Asian cities. With USD$1 million, you would expect a 2,000 to 3,000 square feet bungalows, and depending on the zones, the 50% of the city rents 1,000 square feet apartments at about USD $3,000 - USD $4,000.
> I've learnt on my trip that large part of government revenue is actually Oil, then is Shipping and Aerospace, then Tourism and Entertainment, therefore Property, is not as significant (15%-ish).
> There are unique laws to the city for example Zoning Laws (single-family zoning in 70% of LA). There are two main types of residential zones in Los Angeles: single-family zones and multi-family zones. In single-family zones, you can only build one house on the lot, no matter how big the lot is. Therefore most ownerships are on these Single Family Zoning, leaving the 30% of the land for Multi Family Zones where you can build apartments for rent. This translate to exlusive zones for different social stratification, becoming a "Polycentric Model" with multiple “cores” (e.g., Downtown, Westwood, Culver City). Los Angeles housing districts therefore reinforce racial and class hierarchies.
> LA is a “global city”, attracting foreign investment (especially Chinese, Korean, and Gulf capital) in downtown condos and real estate. These investments often sit empty or drive speculation—unproductive assets create real-world displacement.
> With more than 75,000 homeless, LA has the largest unsheltered population in the U.S, mostly at Skidrow. Efforts to combat homelessness include Inside Safe Program to transition individuals from encampments into interim housing, and Permanent Housing Placements to transition from interim housing to permanent housing, but this effort is slow as other states are "dumping" their homelessness into LA due to its favourable climate. Still, during winter, we saw the population burnign random items to keep warm in Skidrow.
Sydney Housing Situation :
> Greater Sydney spans 12,400 square kilometers for its 5.5 million population. It's average monthly income is at AUD$9000, in comparison to AUD1.2 million for a 2,500 square feet apartments, thus a 65% home ownership rate.
> Sydney's urban landscape exhibits spatial stratification, with affluent populations concentrated in inner-city and coastal suburbs, while lower-income groups are increasingly pushed to peripheral areas. This pattern reflects broader ecological models where socio-economic status influences residential location and access to amenities.
> The liberalization of Australia's economy and the emphasis on market-driven policies have influenced urban development in Sydney. Deregulation and incentives for private developers have led to a surge in high-density housing projects, often prioritizing profitability over affordability and community needs.
> Most of the population lives 1.0 hour drive / metro / bus away from the CBD (Central Business District). Majority of the occupation centres around Healthcare, Tech, and Finances. There are high demand for Civil Engineers as their Minimum Wage model
> Though Minimum Wage of AUD$25 per hour, most of the casual labour and F&B are shunned due to its low guaranteed hours of labour, thus income insecurity and limited potential for career growth. Therefore demand for Civil Engineers and Technical Trades such as Plumbing, Electrician and Constructions are higher in demand as the ageing population sees many seniors going into retirement. The gentrification on the areas around CBD also drives demand for these jobs. Sydney started apartment projects recently to prepare for global inbound migration.
Then comes to our Nation's Singapore's Housing Strategy, in my opinion, is a unique solution that divides the responsibility between Government, Community and Individuals. It is not entirely a Welfare system (we do not need to as a status of port city) and not entirely Capitalistic either.
Singapore - Housing Situation :
> Over 80% of Singaporeans live in HDB flats; 90% of households own their homes. CPF (Central Provident Fund) is used for housing, making homeownership accessible without needing liquid cash upfront. Public housing is heavily subsidized for first-time buyers, and ethnic quotas (Ethnic Integration Policy) promote racial harmony, avoiding ghettos and racial enclaves. The HDB is not for profit—it is part of a social policy, not a market.
> One may argue on the rising cost of home ownership. This is true, but looking at the policies and how it fare against the rising median income, I feel its proportionate. The system achieved consistently, a Mortgage Servicing Ratio (MSR) of around 30% of household income. In 1980s when our Median Household Income is about SGD $1000, our monthly installment was SGD $300. In 2000s, it's $4,000 against $1,200. In 2020s, it's SGD$10,000 against $3,000. This is an estimate of a 4-room HDB across the years. Again, we encourage pro-family units to buy large and downsize on retirement, and with consideration of Grants such as EHG and Proximity Grants, this value may drop, understand it is a blindspot for some lifestyle chocies of non-procreation, but that's not a National Direction. Realistically, the installment period do extends, it is at approximately 20 years today as compared to 10 or 15 years in the past.
> Land is scarce; the 99 years leasehold reflects the state’s view that housing is a right, not a wealth-building instrument. En bloc redevelopment allows renewal of aging estates and ensures continuous optimization of land use. This allows continuous renewal or urban spaces to keep up with new standards of facilities. The fear of decreating value to 0 for older estate persists, but in history, none of this had happened, most are put up for SERS, therefore sold back to governemnt with reasonable compensation based on buying price. Again, HDB is not for profit.
> Decentralized Urban Planning : Heartland Model : Based on the Concept Plan (1971, 1991, 2001) and the Master Plan, Singapore’s model ensures access to work, play, live and learn within towns (e.g., Tampines, Jurong, Punggol). Each HDB town has its own regional center, polyclinic, schools, malls, transport hub. This reduces congestion, fosters local community identity, and flattens class divides in space. This breaks away from Concentric Circles, thus there would be no stark "poor" or "elite" zones in residential areas (on exception on Private Foreign-Dominated Condominiums).
> If we look at housing in Singapore as a means for shelter for all, Singapore excels. But if you look at housing as a means for wealth acculumation or financial freedom, then Singapore housing system is not designed for this purpose, though many many many citizens try to game this by acquiring condominiums and renting for passive income or the buying and selling of HDB in speculation of potential area development.
> Singapore’s system prioritizes social cohesion, basic shelter security, and responsible state planning over short-term profits. It may not be emotionally or aesthetically ideal for everyone, but it does deliver on its promise: no one is left homeless, and most are not rent-dependent. We are all slaves to housing, globally. The difference is that in Singapore, you’re a slave to a dignified system, not to an unpredictable market or a landlord.
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