Singapore's public housing system is out of control as well. If you meet income requirements you can buy an HDB. Currently backlog for new HDBs is ~4-5 years. You can't buy one unless you are married or over 35 years old. One new HDB development was 10x oversubscribed. Highly desirable HDBs are like winning a lottery, after 5 years you can sell and keep the appreciation (gov't is looking to clawback in the future). People "COV = cash over value" to get HDBs on the secondary market. 1000 sq ft HDBs can cost $1M SGD.