The same system works wells in Singapore but it’s for three tiers of income and over 75% of population lives in govt owned housing.
Housing obtained at subsidized rate shouldn’t be treated as a speculative asset as the people signing up will likely never qualify for housing loans, normal interest rates or even have the ability to put down down payments. Especially in desirable areas. The goal is to provide stable affordable housing for those who are housing insecure. The market place has been made accessible to them for habitat and not to get an unfair advantage as a speculative play.
Do you have any source where I can look at the numbers?
ETA: the same system here in the us is called BMR or below market rent apartments. It’s not social housing or section 8. There are also 55+ only senior communities to assure that seniors are not priced out due to housing insecurity/eviction threats.
I have no numbers, but that was my understanding of the market when I bought a flat.
The government does sell leaseholds of their home to council tenants through the right to buy scheme, but in general leaseholds are not a government scheme: they are sold and bought between private parties.
In the past I understand that a significant percentage of the UK population used to be council tenants but the through the right to buy scheme the government got rid of a lot of housing stock and it only replenished a fraction of it.
Housing obtained at subsidized rate shouldn’t be treated as a speculative asset as the people signing up will likely never qualify for housing loans, normal interest rates or even have the ability to put down down payments. Especially in desirable areas. The goal is to provide stable affordable housing for those who are housing insecure. The market place has been made accessible to them for habitat and not to get an unfair advantage as a speculative play.
Do you have any source where I can look at the numbers?
ETA: the same system here in the us is called BMR or below market rent apartments. It’s not social housing or section 8. There are also 55+ only senior communities to assure that seniors are not priced out due to housing insecurity/eviction threats.