GOVERNMENT POLICIES AND PRIVATE HOUSING PRICES IN SINGAPORE

Regression models are used to show that interest rates, income growth rates and the supply of housing have not played a statistically signif icant role in the determination of private housing prices in Singapore between 1975 and 1994, Instead, private housing prices in Singapore w ere highly correlated with the prices for public-sector-built housing, Moreover, the timing of government policies relating to the use of co mpulsory savings for private housing finance purposes, the liberalisat ion of rules on public housing ownership criterion as well as for hous ing finance had a significant impact an private housing prices.