Which is indirectly pegged to open-market prices. There's also some encouraging of a view of public housing as an appreciating asset. Insufficient new housing supply due to Covid, combined with these policies, has seemingly led to ongoing runaway (resale) public housing prices: a whopping 40%+ price increase over 2020 Q3 - 2024 Q4: https://www.hdb.gov.sg/-/media/HDBContent/Images/EAPG/EAPG-C.... A 40% average increase in (resale) public housing prices over 4 years is eye-watering.

Non-homeowners' wealth is getting inflated away by the rises, which is going to make it harder for younger people to have kids.