MYTH #1: Singaporeans owns their HDB flats.
TRUTH: Singaporeans are merely renting these 99-year leasehold properties from HDB at exorbitant prices.
The Housing Development Board was set up in 1960 during a time when large numbers of people are living in squatter settlements and slums around the city centers.
Under the then indefatigable Minister for National Development Mr Lim Kim San, HDB began the task of solving Singapore’s housing crisis and resettling the squatters.
It built 21,000 flats in less than three years. By 1965 it had built 54,000 flats, exceeding the 50,000 target of its First Five-Year Building Programme.
Today, about 84 percent of Singaporeans live in HDB flats compared with only nine percent in 1960 when HDB was first established.
The ruling party has always prided itself for building homes to house the majority of the population. HDB has become its crowning achievement and the mainstream media never…
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