Abstract
Singapore’s Housing and Development Board (HDB) has won numerous international accolades for “housing a nation”. An important innovation of the HDB in 1964 was the development of public housing for sale. This led to the HDB becoming Singapore’s largest real estate developer—providing affordable housing for lower-, middle-, and upper-middle-income households. The homeownership rate has been above 90% since the 1990s. An active secondary market allows for resale transactions at market prices. Phang discusses the wider context and HDB’s organizational practices that has enabled it to avoid the inefficiencies that are typically found in state-owned enterprises in other countries.
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