singapore is the living proof that if the goverments did what they are supposed to do they can turn a country from homeless and poor to rich and apartment comfy for everyone

Who cares if it is social control, people have roofs above their head, a job and food on the table. Well done to Singapore

Living in public housing is better than private condominiums. Neighbours in public housing are much friendlier. And I love the diverse racial mix. I'm Malay and I truly love my Chinese neighbours. And I know they care about us too. Sometimes they hanged on our doors fresh fruits they gotten from their friends. It's a blessing.

Hong Kong Government has left the chat

The real genius behind fixing the housing issue is the 99 years lease imposed. It means majority of Singapore’s land cannot be hoarded by a landlord class which hinders social mobility of later generations. 👍 while people do complain, I think a unique brand of socialism + capitalism does work.(Despite its failings)

So Singapore Government fixed the housing problem by becoming the largest developer in the country, who provides various types of public houses to residents for 99 years at a Fair & Cheap Price (actually a 99 year long-term lease contract), instead of selling the limited land to greedy developers who normally sell apartments at a premium.

Social control in this case seems actually super smart. People belonging to one ethnic group usually socialize amongst each other more strongly than with other groups since it provides more familiarity and safety. But that can easily lead to the development of neighbourhoods that end up being unattractive to investors and thus often are also forgotten by the government. That leads to neighbourhoods that are in bad condition, bc no ones fixing the potholes, the streets are dirty, schools don't get the funding they need, less job opportunities or at least less well paying jobs, leading to poverty which in turn makes illegal activities more attractive due to the desparation of the people etc etc. Of course there are exceptions, but tbh this is the kind of social control that seems perfectly fine. No reason to demonize the word control. You have people of all ethnicities and social status well integrated into society and can easier prevent the development of slums etc etc. How is that negative?

When I visited Singapore, my uber driver proudly told me that their government had enough savings to live through five(5!!) recessions. Probably one of the smartest most people-focused governments out there. We could all learn from Singapore. 👏👏

This is like my geography class but not boring and actually the kind of applicable stuff we can learn from today. Great inspo for my own channel!

We don't own the houses - we just lease them from the government for 99 years.

I recently visited Singapore and have been in awe of it. How come such a small place has progressed so much. It's truly inspiring and I wish to see most of the Indian cities to be like Singapore. Cheers !

Lee Kuan Yew is literally one of, if not the best leader of all time. And I'm not even from or live in Singapore.

“Mysteriously a random fire solved all the governments poblems”

This is what happens when governments finally want to accomplish things

Love Singapore and the people. Great city to visit, very clean, very safe, everyone speaks English and have a sense of pride for their country.

I loved everything about Singapore it's a truly great, safe, friendly, and peaceful place to live. It was just too expensive for me to live there for a longer amount of time.

Whilst the British government still hasn't rehomed the Grenfell tower victims over a year on in one of the richest boroughs in the richest cities in the world...

Now that's how tax money should be used, not on aircraft carriers and missile.

This explains how demand from foreign money is kept out of the housing market. This idea is genius.

Singapore is a wonderful country I remember my mum has been there on her honeymoon and she loved it so much, all the love from Egypt

San Francisco has so much to learn from Singapore when it comes to dealing with its housing crisis. People don't need to live on the streets or struggle to afford rent, and Singapore shows the efficacy of smart government policy.

"Unexplained fire"

I've always loved Singapore! Can't wait to return. Kudos!!

Contrast this with Indian housing - where a nexus of builders and politicians swindled away Indian middle class life savings - without providing any housing.

A government agency that is "mighty" and strict yet benevolent and effective is something to applaud.

I visited Singapore in 206 and it was so beautiful. After this video I’m loving Singapore more and more. If you get a chance to visit please go!

5 year wait to sell helps to stop those flippers / investors that have turned America's housing into a way to get rich off the poor.

Really love well-explained Architectural content like this and would love to have more. Thanks a lot Bloomberg ❤

The Greeks were right, City-states are the best

Singapore may be tiny but the world can learn a ton of lessons from Singapore

We have public housing in Syria and it's cheaper than the special market by 40-45% and same way in Singapore that you need to sign up for it and pay a small mount every month

Thank you. I think we all need more coverage on the few success stories around the world. We can learn from them.

social control is better than living under a bridge snorting heroin

appreciated the research done to create this well covered video in just 4 minutes!

Got this recommendation after watching few videos on housing conditions in Hong Kong. How contrasting!!!

If only the useless government in HK was half as competent.

What an excellent idea!! Also a great side benefit for ethnic integration, which is a huge issue all around the world, especially in Europe.

You guys have made world news interesting for me. Thank you

Singapore sounds like some kind of magical dream country and even looks like it.

I feel like you should've expanded a little bit more on the ''apply first, then wait several years to be build'' part.

Rent is the best way to squeeze blood. Well done Singapore by saving your citizens

Thank you for your time and consideration in this matter

That so-called social control actually makes a whole lot of sense. We could learn a whole lot from that here in Canada the United States!

I truly admire the way the Singapore Government resolved the housing issue.

Extremely Nice video and beautiful cities,vacations and going on tours seems to be a kind of relaxation to me,I find meeting new people from different race as fun and educating,each year I find out time to travel to at least 3 countries I have never been to,nevertheless comfort or would I say living the way I do is too expensive,as long as you can afford it,it’s fun

Im proud of my country ~singapore btw thanks mr lee kuan yew for everything!

very informative vid. well-thought policies for Singaporean

Ayyy watching this from Singapore

Irony is that, Singapore was built by looking at Hong Kong.. now, Hong Kong's biggest problem is its housing and Singapore's biggest strength is it's housing

Gotta admit, impressive really well done and an amazing example

Amazing policies. I hope in India too our government learn from such housing development models from Singapore. Can u make a detailed case study on it. It's a request 🙏. Thank you for all the information

One comment and a response to some comments. First, it is disappointing that there was no mention whatsoever of the removal of the constitutional right to property upon independence in the video. This allowed the government to compulsorily acquire large tracts of land at below cost to build the public housing. One of the reasons no one else has been able to replicate the HDB's success is most liberal democracies' commitment to a constitutional right to property, which makes public housing of the scale seen in Singapore unaffordable to the government. That said, even if a government could grab land at an undervalue, it does not translate to large scale public housing (see, eg, China) so kudos still to the HDB. Secondly, although public housing is only technically a 99 year lease, this is still property ownership. Technically speaking, all privately held property, including freehold in Singapore, is a tenancy. They are just different forms of tenancies. The duration of freehold tenancies (or estates, if you prefer the technical term) are uncertain ranging from almost forever (fee simple) to a life interest. The duration of leasehold tenancies on the other hand are fixed and can range in theory from a minute or less to 9,999 years (which actually exists in Singapore). There is a widespread misconception that just because it is a lease, it is not property ownership and should be compared to short term rentals. This is unfair for a number of reasons, not least because even short term tenancies are not just contracts, but also property. They are merely less secure because of their shorter duration.

Here in Israel, the government did the same thing to solve the same problem. But with one huge mistake. They thought that investors were the problem (which was true, but...). They fought the investors and drove them out of the market. But with less investors there was less competition. Prices of rent increased. The government did not rent their apartments, instead: they sold them. And that was a huge mistake. Some of those who bought these apartments became investors themselves and started to rent these homes instead of living in them. 5 years later, they will sell these homes for a much higher price - leading to increase in prices all over again. The government banished the investors just to create new investors. Prices never fell down.

great idea, excellent execution bravo

this is amazing !!

Singapore: "do it" john doe: "ight gimme a month" Singapore: "tomorrow" john doe: "yo that's a big juuu..." Sinapore: *cracks the belt.

I've realized that smaller countries are better than bigger countries😒. The more populated it is , the more problems you'll have to face. Small countries that solves problems with cool ideas (like this) just won't work in America filled with 300,000,000 people...sometimes I wish I lived somewhere else.

Let's have a look in some of them! It would be interesting to know how CPFund affects people with different levels of income. As with the Barbican in London, maintenance is key.

Amazing!! The rest of the world should take note and do the same.

This Singapore's concept should be the inspiration of other nation ❤

It's not ownership over public housing units; it's Title for a lease. Bloomberg maybe you should look into affordability, Income to Housing Debt Servicing ratios etc.

a video about my country that is not full of cynics. very nice, thanks everyone

You can also buy HDB apartments from the resale market. You don't necessarily have to apply for a brand new one.

Singapore policies make so much sense. In fact they make so much sense that they will never happen in the US.

We need this here in Papua New Guinea. Especially Port Moresby....

Wow, some of the ideas should definitely be applied in Vancouver, Toronto and Montreal. Would help prevent houses from skyrocketing in price.

That’s huge!! Great one!

Singapore also has some of the toughest drug laws anywhere. This makes the apartment blocks a lot... Friendlier.

I'm proud of my country

Ive been in singapore. Loved the place. Got to stay there for a while but I couldnt imagine myself living in those apartments. It looked really different although really livable, it's much different living here near the fields, winds, and nature in my country.

Loved Singapore! My aunties live in one of these and their pool was gigantic!!

0:20 Lithuania? Im touched

Singapore actually modelled Hong Kong's housing model during the colonial era, yet now Hong Kong's housing market is severely doomed...

What a great solution. Wish we had something like that here in Australia

Grateful Singaporean here.

Calling for a video “how Hong Kong failed to solve its housing problems”

It seem like the Singapore government actually studied the mistakes and achievement in other parts of the world to implement their system.

Great and informative video

1:40 where can i find more of that 60s background music

Who wants ethnostates when you can have city states?

They also banned Airbnb.

This was informative

Singapore’s past somewhat mirrors that of Hong Kong, they could definitely learn a few things from Singapore to help in dealing with their housing crisis and shortage to an extent.

Well done Lee Kuan Yew, well done Singapore :)

Easy , ABSOLUTELY , 100% , NO CHURNING PROPERTY. Singapore has thousands of rules against property churning. If you don't have real demand of living , there will be no HDB houses for you. If you play to cheat government , you WILL PAY THE PRICE. Fine +jail + ultimately confiscation of your house. You dare to cheat the government ? They will nail you down . So the result is everyone obeys the law so everyone can own his own house at an affordable price. & most important of all , money can not buy the intergrity of Singapore's government . Don't expect the government to change its policies under conglomerates' lobbying pressure. Even though lobbying works extremely well in other countries, it doesn't work in Singapore.

My country (Nigeria) needs this hopefully i get to do them someday...

The percentage fund concept is actually incredible. It's pathetic that other countries haven't really tried it.

I live in Australia, homes are criminally expensive here :/ for a tiny 1 bedroom you’re looking at $400,000 and our government does everything possible to make housing prices go up constantly. Singapore ppl should be very grateful they have such a just government, rental system sucks your life and blood away

There is a reason why Singapore is considered the finest country in the world.

I just wish the leaders in my country, Nigeria would take a cue from Singapore. The idea of creating a fund based off a percentage of salaries and using it to provide housing is so brilliant. We have billionaires here in Lagos, living right next to people that make less than $5 in a day, right here on the Island (the most exotic part of the city). We desperately need this thing that Singapore has done.

Make a video about Hong Kong. The average waiting time for public housing is over 5 years however the new public housing are excellent like Singapore.

Squatters refuse to move into apartments ----> "unexplained fire" -----> Squatters are now living in apartments. Getting the job done Singapore style!

Thank the founding father Lee Kuan Yew for this. Singapore is the reason why it is today.

3:36 I like how the right side of the city uses bright white color lights and the left side uses warm yellow lights haha.

as a singaporean; no matter how rich i get, i think i’d never want to live anywhere else other than in a HDB. the government hires people to maintain the estates such as repainting the buildings every few years & clearing the trash. some residents still have the audacity to look down upon these workers just because they’re foreigners & do manual labour, but that’s a whole other story. source: i grew up living in the same HDB all my life. i’m 20 now so i know i’ll have to move away in a couple of years because estates that are too old will have to go through en bloc 🥲

Its nice to see a goverment to actually care for its people not through shallow words and lies, but through actions.

WOW. A 5 year minimum occupancy requirement? Nice. So you have to treat housing like... AN ACTUAL PLACE TO LIVE AND NOT JUST A BOX TO PARK INVESTMENT CAPITAL IN? WHO WOULD'VE THOUGHT.

Well done Singapore

One of the best practice country implementation...

Great job