| The big difference between HK & Singapore is that Singapore controls most of the housing directly through HDB (over 80% of the population live in HDB housing) whereas in HK a bigger proportion is manipulated by the Government through the cartel of the big property developers (there are those who would say that in fact it is the property developers who manipulate the Government).
Nevertheless, the executive flats in Singapore constitute less than 7% of the total HDB housing stock ( http://www.hdb.gov.sg/fi10/fi10297p.nsf/ImageView/AR0506/$file/statistics-and-charts.pdf ) so is that really "a lot of the local middle class"?
But in any case, the question is moot since in the case of HA housing you need to be a Permanent Resident, and to own HDB housing a Singapore Citizen. |