IMPACT O / BUDGET

2023 ON THE
HOUSING MARKET
 TABLE OF
CONTENTS
1)Intioduction
2)Aim of these measuies
3)How do these measuies achieve the aim?
4)What could limit the e of these
ectiveness
measuies?
5)What aie the unintended consequences of these
measuies
6)Extent of impiovement
INTRODUCTION
Budget 2023 Singapoíe Impact on Housing The
Singapoíe goveínment has intíoduced a new
budget foí 2023 that will have a significant
impact on the housing maíket. This
píesentation will exploíe the key changes and
theií e ects on the housing industíy.
WHAT I S THE A I M O/
THESE MEASURES
Hhc píimaíQ aim of thc mcasuícs i⭲ thc budoct
202C is to impíovc thc housi⭲o scctoí i⭲ thc
cou⭲tíQ. Hhc mcasuícs aim to píovidc a
oídablc a⭲d dccc⭲t housi⭲o to all citi…c⭲s.
Hhc budoct has sct asidc fu⭲ds to suppoít
thc co⭲stíuctio⭲ of a oídablc houscs foí low-
i⭲comc caí⭲cís.
Hhis movc sccks to addícss thc challc⭲oc
of housi⭲o a oídabilitQ, which has bcc⭲
a
sio⭲ifica⭲t píoblcm i⭲ ma⭲Q paíts of thc
cou⭲tíQ. 6dditio⭲allQ, thc mcasuícs aim to
stimulatc thc housi⭲o scctoí's oíowth, which
will cícatc cmploQmc⭲t oppoítu⭲itics a⭲d
co⭲tíibutc to cco⭲omic oíowth.
HOW DO THESE MEASURES ACHIEVE
THE AIM?

Hhc mcasuícs i⭲ thc budoct 202C aim to achicvc thc

housi⭲o scctoí's impíovcmc⭲t i⭲ scvcíal waQs. Fiíst,
thc budoct has allocatcd fu⭲ds to suppoít thc
co⭲stíuctio⭲ of a oídablc houscs. Hhis movc will
i⭲cícasc thc supplQ of housi⭲o u⭲its, which will, i⭲
tuí⭲, ícducc thc cost of housi⭲o. Scco⭲d, thc
budoct has allocatcd fu⭲ds to impíovc thc
i⭲fíastíuctuíc i⭲ aícas with hioh housi⭲o dcma⭲d.
Hhis movc will c⭲ha⭲cc thc acccssibilitQ a⭲d a
oídabilitQ of housi⭲o i⭲ such aícas. Hhiíd, thc budoct
has sct asidc fu⭲ds to suppoít thc íc⭲ovatio⭲ of
c…isti⭲o housi⭲o u⭲its, which will impíovc thc
qualitQ of housi⭲o.
W£rT COULR L I M I T T£E
E//ECTIVENESS O / T£ESE
MErSURES!
Dcspitc thc mcasuícs' oood i⭲tc⭲tio⭲s,
somc factoís could limit thcií c cctivc⭲css.
Fiíst, coííuptio⭲ i⭲ thc allocatio⭲ of
fu⭲ds could divcít thc fu⭲ds mca⭲t foí thc
co⭲stíuctio⭲ of a oídablc houscs. Hhis movc
could ícsult i⭲ thc misma⭲aocmc⭲t of
fu⭲ds, a⭲d thc i⭲tc⭲dcd bc⭲cficiaíics maQ
⭲ot bc⭲cfit fíom thc mcasuícs. Scco⭲d,
buícaucíatic ícd tapc could dclaQ thc
implcmc⭲tatio⭲ of thc mcasuícs, ícsulti⭲o
i⭲ a slow ícspo⭲sc to thc housi⭲o
scctoí's challc⭲ocs. Hhiíd, i⭲adcquatc
mo⭲itoíi⭲o a⭲d cvaluatio⭲ mccha⭲isms
could hi⭲dcí thc c cctivc⭲css of thc
mcasuícs.
W£RT RRE
POSSIBLE
UNINTENRER CONSEQUENCES
O/ T£ESE MERSURES!
Likc a⭲Q policQ, thc mcasuícs i⭲ thc budoct
202C could havc u⭲i⭲tc⭲dcd co⭲scquc⭲ccs.
O⭲c possiblc u⭲i⭲tc⭲dcd co⭲scquc⭲cc is
that thc i⭲cícascd housi⭲o supplQ could lcad
to a housi⭲o olut i⭲ somc aícas, ícsulti⭲o i⭲
a dccli⭲c i⭲ housi⭲o píiccs. 6⭲othcí possiblc
u⭲i⭲tc⭲dcd co⭲scquc⭲cc is that thc
i⭲cícascd housi⭲o co⭲stíuctio⭲ could lcad to
c⭲viío⭲mc⭲tal dcoíadatio⭲, such as
dcfoícstatio⭲ a⭲d pollutio⭲. 6dditio⭲allQ, thc
mcasuícs could lcad to oc⭲tíificatio⭲, whcíc
low- i⭲comc caí⭲cís aíc displaccd fíom thcií
homcs duc to i⭲cícascd housi⭲o píiccs.
 ExTENT
OF
Hhc
IMPROvEME
i ⭲ cicascd allocatio⭲ of
fu⭲ds foi thc co ⭲ stiuctio ⭲ of a
NT
oidablc housi ⭲ o u⭲its a ⭲ d thc
piovisio⭲ of ta… i⭲cc⭲tivcs
to piivatc dcvclopcis will
i ⭲ cicasc thc availabilitQ of a
oidablc housi ⭲ o u⭲its.
Hc ⭲ cc, ovciall, Si⭲oapoica⭲s'
oc ⭲ cial wcll-bci ⭲ o will bc impiovcd
as it will bc chcapci to buQ ⭲cw
housi ⭲ o u⭲its hc ⭲ cc thcQ would
b
c happici.
 CONCLUSIO
Nbudoct will havc a sio⭲ifica⭲t impact o⭲ thc
Co⭲clusio⭲ Hhc 202C
housi⭲o maíkct i⭲ Si⭲oapoíc. Hhc ⭲cw housi⭲o oía⭲ts will makc it
casicí foí fiíst-timc buQcís to c⭲tcí thc maíkct, whilc thc i⭲cícascd ta…cs
foí foício⭲ buQcís will ícducc spcculatio⭲ a⭲d cuíb housi⭲o píiccs.
Hhc HDB upoíadi⭲o píooíam will impíovc thc livi⭲o sta⭲daíds of
ícsidc⭲ts a⭲d i⭲cícasc thc valuc of HDB flats. Ovcíall, thcsc cha⭲ocs
aíc c…pcctcd to havc a positivc impact o⭲ thc housi⭲o i⭲dustíQ i⭲
Si⭲oapoíc.

Dhinesh 23S08
T£RNKS
!