Using a systems thinking approach to address the affordability of housing for Singaporeans

Nam C. Nguyen, Kwamina Banson, Ockie J.H. Bosch, Jing Zhi. Fang, Benjamin C.S. Heng, Claudia S.W. Lee, George Lim, Liang Zijie and Thanh V. Nguyen

International Journal of Markets and Business Systems, 2016, vol. 2, issue 3, 206-225

Abstract: The Singaporean Government has been attempting to control and stabilise hikes in prices among the private and public housing since 2009. This hike in prices is mainly due to high demand of housing properties in Singapore as a result of the influx of foreigners and economic growth. The increasing housing prices render a substantial negative effect on consumption expenditures of citizens which lead to a drop in average propensity to consume (APC). The purpose of this research paper is to identify the leverage points in the causal loop diagrams for housing affordability by the Housing Development Board (HDB) for Singaporeans. This research therefore uses systems thinking tools embedded in the first five steps of the evolutionary learning laboratory (ELLab) framework to identify the root causes and determine the components and interactions related to the problem of HDB affordability. The results of this research show that, land space availability, technology, disposable income and immigration policy are the keys to leverage affordability of housing prices. The research findings and recommendations can complement the current solutions provided by the HDB and the Singaporean Government.

Keywords: Singapore; property; housing policy; housing affordability; problem solving; systems thinking; house prices; causal loop diagrams; evolutionary learning laboratory; ELLab; land space availability; technology; disposable income; immigration policy. (search for similar items in EconPapers)
Date: 2016
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