Free and Affordable Housing for all Singaporeans
This is the plan for free and affordable housing for all Singaporeans:
With 30 billion dollars that can be generated from taxing the rich, and 10 billion dollars from removing National Service, we can easily allocate 15 billion dollars of that money to make housing more affordable. About 8 billion dollars of that money will go into making the price of HDBs cheaper. The price of HDBs can be reduced by about 30%, saving you hundreds of thousands of dollars. So if your 3-room Flat costs 400 thousand, after subsidies it’ll cost 250 thousand. If your 4-room flat cost 600 thousand, after subsidies it’ll cost 400 thousand.
The percentage of housing subsidy will increase depending on your income level. And no matter what your income level is, how poor or unemployed you are, you will be guaranteed a free, safe and private room for you to stay in (with some shared facilities). Housing should be a human right, available for free to everyone. No one should ever have to be homeless.
The rest of the money will be spent on building more flats at a faster rate (about 40% more flats each year) to ensure homes remain affordable by increasing supply. That will also lead to shorter wait times and more public rental homes for people who are not ready or able to buy.
How Money Will be Allocated to Housing:
Cost of housing for people with little to no income: