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Singapore's success with HDB flats

06-11-2010 14:10 BJT

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Singapore has one of the highest ratios of home ownership in the world. In 1964, the Singapore government announced its plan to provide affordable housings for its citizens.

Low-income families are eligible for a considerable amount of governmental subsidies to purchase Housing and Development Board flats, also known as HDB flats. Their prices are usually only one third of commercial housing in the same area.

Now more than 90 percent of Singapore's citizens live in HDB flats, with an average living space of 30 square meters per capita. Living conditions have improved significantly over the 40 year period since the announcement of the plan. Yap Chin Beng, the deputy director of Housing and Development Board spoke of its successes.

Yap Chin Beng, Deputy Director of Housing And Development Board said "Families who are unable to purchase HDB flats only have to pay cheap rents to live there. We hope low-income families could benefit from their ownership of properties. In long-term plans, HDBs will help them to buy their own flats."

Editor:Xiong Qu |Source: CCTV.com

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