Singapore will study more equitable access to housing types for singles, the Straits Times reported, citing National Development Minister Desmond Lee.
(Bloomberg) — Singapore will study more equitable access to housing types for singles, the Straits Times reported, citing National Development Minister Desmond Lee.
Home ownership remained a key point of discussion between groups of singles and second-time buyers, though their circumstances “varied greatly,” Lee said at an event.
Housing types across mature and non-mature estates as well as prime locations will be studied. To address affordability concerns, some ideas being considered include “rent-to-own” models, where tenants have the option to buy their rental unit after some time. There’s also the possibility of buying homes sold with shorter leases, the report said.
Singles are largely shut out of Singapore’s subsidized housing program that generally favor married couples. Some of the issues discussed at the event included restrictions on singles to buy property in prime locations, the report said.
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