Seoul Housing and Urban Development Corporation said on Aug. 3 that it held a "public dwellings transaction system improvement policy seminar" on July 29 and explored directions to improve the public dwellings transaction system based on the Housing and Development Board (HDB) case in Singapore.
The seminar was arranged as policy interest in the public dwellings transaction system grew with the diversification of public dwellings supply methods and the expansion of land-lease sales dwellings. Based on the case of Singapore's Housing and Development Board, which operates a globally successful public dwellings policy, SH discussed system improvement directions suited to SH.
At the seminar, Professor Lee Gwan-ok of the National University of Singapore gave a presentation titled "Analysis of Singapore's HDB case for reviewing SH's public dwellings transaction system."
In the presentation, Lee said, "The success of Singapore's Housing and Development Board lies not in simply operating a transaction market (platform) but in an integrated public dwellings system that spans supply, finance, regulation, and management."
In particular, it was introduced that in the resale market as well, various public rules operate together—such as the minimum occupation period (MOP), buyer eligibility screening, public value appraisal, and disclosure of actual transaction prices—to keep market functions and public interest in balance. Lee also introduced the Plus and Prime schemes, which provide additional subsidies for public dwellings in prime locations in exchange for recouping part of the profit on sale, and emphasized the importance of institutional mechanisms to prevent development gains generated by public support from being monopolized privately.
Lee also suggested the need to build a data-based digital platform for verified listing registration, pre-screening of buyer eligibility, disclosure of actual transaction prices, public value appraisal, estimation of expected recouped amounts, and administrative linkage.
SH plans to closely analyze advanced overseas cases such as Singapore's Housing and Development Board to establish a public dwellings transaction system that balances public interest and market functions, and to continue policy research to enhance residential stability for citizens and the sustainability of public dwellings.
Hwang Sang-ha, president of SH, said, "A public dwellings transaction system requires policy design that goes beyond building a system to merely support transactions and connects the supply, management, transaction, and regeneration of public dwellings into one framework," adding, "Based on the various policy implications discussed at this seminar, we will continue to review a public dwellings transaction system and policy model suitable for Seoul."