But in the tropical city-state of Singapore, it's a surprisingly different picture.

但在熱帶城市新加坡，情況卻出奇地不同。

Public housing on this unique island nation is a point of civic and personal pride.

在這個獨特的島國，公共住房是公民和個人的驕傲。

And planning for it starts early.

規劃工作要儘早開始。

From the second date onwards, we started talking about pretty serious things like housing.

從第二次約會開始，我們就開始談論一些很嚴肅的話題，比如住房。

I just asked her, hey, do you want to just look at BTO flats now?

我就問她，嘿，你現在想只看 BTO 的公寓嗎？

That actually is akin to a marriage proposal when you actually say very seriously, let's apply for housing together.

當你非常認真地說，讓我們一起申請住房時，這實際上就相當於求婚。

Through family-oriented incentives, restrictions and purpose-built housing,

通過面向家庭的激勵、限制措施和專門建造的住房、

Singapore has nurtured a home ownership rate of around 90 percent, a staggeringly high figure among wealthy nations.

新加坡的住房擁有率約為 90%，在富裕國家中這一數字高得驚人。

But as rising prices and resale profits impact younger buyers, could this unique social contract be starting to change?

但是，隨著價格上漲和轉售利潤對年輕買家的影響，這種獨特的社會契約是否會開始改變？

Singapore's Housing Authority

新加坡房屋委員會

Public housing in Singapore is unlike public housing elsewhere.

新加坡的公共住房與其他地方的公共住房不同。

It doesn't just provide for a residual population that cannot afford their own housing.

它不僅僅是為買不起自己住房的剩餘人口提供住房。

It in fact provides university, practically, for the entire Singapore population.

事實上，它實際上為整個新加坡人口提供了大學教育。

Nearly four in five Singapore residents live in a HDB flat.

近五分之四的新加坡居民居住在組屋中。

If you compare it to other equivalent countries, the level of homeownership is nothing compared to what HDB has achieved.

如果與其他同等國家相比，建屋發展局所取得的成就根本不值一提。

The plan for universal housing began when Singapore achieved self-governance in 1959, at a time when the city was facing a housing crisis, with many people living in crowded, unsanitary slums.

全民住房計劃始於新加坡 1959 年實現自治之時，當時新加坡正面臨住房危機，許多人居住在擁擠、不衛生的貧民窟中。

In 1960, the government created the Housing and Development Board, or HDB.

1960 年，政府成立了建屋發展局。

By 1965, the HDB had built over 50,000 apartments.

到1965年，建屋發展局已建造了50,000多套公寓。

Today, there are more than one million HDB flats spread across the country, housing more than three million residents.

如今，全國各地有超過一百萬個組屋，居住著三百多萬居民。

Because of the long waiting time for new flats,

因為等待新公寓的時間太長了、

Singapore couples actually think about applying for housing very, very early on, both in age and also early on in their relationship.

實際上，新加坡夫婦很早就考慮申請住房，無論是在年齡上，還是在戀愛初期。

Some couples talk about applying for housing, or just the idea of getting public housing together as early as on the first or second date.

有些情侶早在第一次或第二次約會時就開始談論申請住房的問題，或者僅僅是一起申請公共住房的想法。

For our friends, most of us would go for an HDB flat because it's the most affordable housing available in Singapore.

對於我們的朋友來說，大多數人會選擇組屋，因為這是新加坡最經濟實惠的住房。

You can have a good community facility like swimming pool.

您可以擁有游泳池等良好的社區設施。

Our location in the future, that's a more, about 15-minute walk away.

我們未來的辦公地點距離這裡更遠，步行大約需要 15 分鐘。

Newer developments are embracing trendy designs and eco-friendly technology, further boosting their appeal among more discerning younger buyers.

新開發的樓盤採用了新潮的設計和環保技術，進一步增強了對眼光獨到的年輕買家的吸引力。

But certain incentives make it easier for some to own these homes than others.

但某些激勵措施使得一些人比其他人更容易擁有這些房屋。

A large part of HDB subsidies is geared towards the idea of encouraging people to get married and set up a family.

建屋局補貼的很大一部分是為了鼓勵人們結婚成家。

The Singapore government is very pro-family.

新加坡政府非常支持家庭。

It insists that the family is the basic institution of society, not the individual.

它堅持認為，家庭是社會的基本機構，而不是個人。

So the public housing favours families.

是以，公共住房有利於家庭。

Currently, in most cases, only singles, 35 and above, are allowed to buy new HDB flats.

目前，在大多數情況下，只有35歲及以上的單身人士才能購買新組屋。

And that's why romantic relationships are being fast-tracked.

這就是為什麼戀愛關係被快速發展的原因。

To get priority in the BTO, or bill-to-order system, years before units are finished.

為了在 BTO（即按訂單開票系統）中獲得優先權，要在設備完工前幾年就開票。

So when you first apply, you don't actually have to be married.

是以，當您第一次申請時，實際上並不需要結婚。

Couples will actually have to submit a certificate of marriage three months within collecting their keys to their new flat.

實際上，新人必須在領取新公寓鑰匙的三個月內提交結婚證書。

But that's just the start.

但這僅僅是個開始。

After moving in, couples then have to live in their flat for at least five years before they can sell, something known as the Minimum Occupation Period, or MOP.

入住後，夫妻雙方必須在公寓內居住至少五年才能出售，這就是所謂的 "最短居住期"（MOP）。

These restrictions seem to have led to some curious trends.

這些限制似乎導致了一些奇怪的趨勢。

Since the bill-to-order scheme was launched in 2001, there has been an increase in marriage rates among younger Singaporeans.

自 2001 年啟動 "訂單制 "計劃以來，新加坡年輕人的結婚率有所上升。

But that's not all.

但這還不是全部。

So over the past few years, we do see more younger couples coming to consult with us when it comes to issues of potential divorces.

是以，在過去幾年裡，我們確實看到越來越多的年輕夫婦來諮詢我們潛在的離婚問題。

We also see young couples come to talk to us about pre-nuptial agreements, as well as post-nuptial agreements when they are thinking of going ahead with a divorce, but are not ready to pull the trigger yet.

我們還看到一些年輕夫婦前來諮詢婚前協議和婚後協議的問題，他們打算離婚，但還沒準備好扣動扳機。

Because pulling that trigger comes with some major considerations.

因為扣動扳機需要考慮一些重要因素。

In the unfortunate scenario where there has been a breakdown in the marriage and parties get a divorce, the flat is, of course, the key asset that we have to consider.

在婚姻破裂、雙方離婚的不幸情況下，公寓當然是我們必須考慮的關鍵資產。

If this divorce takes place before the fulfilment of the five-year

如果離婚發生在五年期屆滿之前

Minimum Occupation Period, the flat has to be surrendered back to the HGB.

最短佔用期結束後，該公寓必須交還給 HGB。

As a policy, I do feel that that has been helpful.

作為一項政策，我確實覺得這很有幫助。

We do see couples that may have gotten married a little bit younger, and instead of just exiting a marriage the first time there's an issue, they're almost forced to stay together to work through that.

我們確實看到一些結婚較早的夫婦，他們不會在第一次出現問題時就退出婚姻，而是幾乎被迫留在一起解決這個問題。

For some couples, staying together is a price they're willing to pay for the huge financial gains they stand to make.

對於一些夫妻來說，為了獲得巨大的經濟收益，他們願意付出這樣的代價。

The Singapore government actually owns the land.

新加坡政府實際上擁有這片土地。

It sells the flat on a 99-year lease basis.

它以 99 年租約為基礎出售該公寓。

So, locally, buying a 99-year lease is usually addressed as owning the flat.

是以，在當地，購買 99 年租約通常被視為擁有該公寓。

But in fact, one owns the lease and the rights to transfer the lease to another buyer.

但事實上，一個人擁有租約和將租約轉讓給另一個買家的權利。

This ability for owners to resell their flat has created an anomaly for a publicly subsidised housing system – profit.

業主轉售公寓的這種能力為公共補貼住房制度帶來了一種反常現象--利潤。

With high demand for units in desirable, convenient locations, the resale prices of some HDB flats have even topped $1 million Singapore dollars.

由於對交通便利的理想地段的組織、部門需求量很大，一些組屋的轉售價格甚至高達100萬新元。

For that reason, buyers like Sean Tan and his wife view their flat as a financial asset.

是以，像 Sean Tan 和他的妻子這樣的買家將他們的公寓視為一種金融資產。

They purchased it in 2023 for just over $500,000 Singapore dollars.

他們於 2023 年以略高於 50 萬新元的價格購買了它。

We see potential in the price soaring in the next few years.

我們認為，在未來幾年內，該產品的價格有可能飆升。

The number one reason would be there's actually a train station within 500 metres away from this unit.

第一個原因是，距離這個單元 500 米之內就有一個火車站。

I actually spent about $140,000 SGD for the renovation, and the plan is to stay in this house for about four years to hit the minimum occupation period.

我實際上花了大約 14 萬新元進行裝修，計劃在這所房子裡住上四年，以達到最低入住期限。

I'm hoping to sell the house at a higher price, sell somewhere maybe about $750,000 to $800,000 Singapore dollars.

我希望能以更高的價格賣掉房子，賣到 75 萬到 80 萬新元左右。

And herein lies the great irony of public housing in Singapore.

這就是新加坡公共住房的最大諷刺。

A subsidised flat is actually a social welfare good.

補貼公寓實際上是一種社會福利。

But because you're allowed to transfer the lease, then it becomes a commodity in the market.

但由於允許轉讓租約，它就成了市場上的商品。

People feel that the HDB system should not be a system for profit-making because at its very core, the idea of the HDB system is to ensure housing affordability and home ownership.

人們認為，建屋發展局制度不應該是一個牟利制度，因為建屋發展局制度的核心理念是確保人們能夠負擔得起住房和擁有住房。

It's created tension between the younger and older generations, between those who bought their HDB flats for a relatively decent price and those who now face affordability issues.

這造成了年輕一代和老一代之間的緊張關係，也造成了那些以相對合理的價格購買組屋的人和那些現在面臨負擔能力問題的人之間的緊張關係。

Because of the need of maintaining the price of HDB flats, there's a need to keep the prices high.

因為需要維持組屋的價格，所以需要保持高價。

But at the same time, you have to make sure that the younger generation continues to be able to afford flats.

但與此同時，你必須確保年輕一代繼續買得起房子。

A bigger profit is made by the people who already have higher income.

收入較高的人獲利更大。

And so, the unintended consequence is that the HDB, instead of being redistributed, has in some sense contributed to increased inequality, which rubs the public the wrong way.

是以，意想不到的後果是，組屋非但沒有重新分配，反而在某種意義上加劇了不平等，這讓公眾感到不快。

Young couples are very worried about how are they going to afford housing, even public housing that is supposed to be cheaper than the other options.

年輕夫婦非常擔心他們如何負擔得起住房，即使是本應比其他選擇便宜的公共住房。

HDB's position on the purpose of affordable public housing is very clear.

建屋發展局對經濟適用型公共住房目的的立場非常明確。

It should not be a financial gain to the couple.

這不應該成為夫妻雙方的經濟收益。

In certain prime locations, the MOP has actually increased from five years to 10 years.

在某些黃金地段，澳門銀河國際實際上已經從 5 年增加到 10 年。

And I believe that this is a hitch against that sort of potential speculative use of obtaining a flat.

我認為，這是對這種潛在的投機性使用獲得公寓的一個障礙。

Singapore's Housing and Development Board declined to comment to Bloomberg.

新加坡建屋發展局拒絕向彭博社發表評論。

The HDB has said publicly it remains committed to keeping housing accessible and affordable, primarily by subsidising units for first-time buyers.

建屋發展局公開表示，它將繼續致力於保持住房的可獲得性和可負擔性，主要是通過為首次購房者提供補貼。

But with multi-year waiting lists for new flats, some buyers end up turning to the much more expensive resale market.

但是，由於新公寓的排隊等候時間長達數年，一些買家最終轉向了價格更為昂貴的轉售市場。

In response, the government has doubled down on another tactic.

作為迴應，政府加倍使用了另一種策略。

One of the main ways in which the government has tried to tackle the pricing issue in Singapore is to really ramp up the supply of flats as well.

政府試圖解決新加坡房價問題的主要方法之一，就是增加住房供應。

The government is embarking on a very, very aggressive new building scheme that will see many, many new flats being built in the next few years.

政府正在實施一項非常、非常激進的新建築計劃，在未來幾年裡，將有很多很多的新公寓建成。

These efforts are mostly tweaks to the system, not major overhauls.

這些工作主要是對系統進行調整，而不是大刀闊斧的改革。

That's because the government is trying to ensure a critical balancing act between housing affordability and a store of wealth.

這是因為政府正在努力確保在住房可負擔性和財富儲備之間取得關鍵的平衡。

Public housing currently accounts for about one-fifth of Singaporean household assets.

目前，公共住房約佔新加坡家庭資產的五分之一。

Singaporeans of all ages think that public housing is a good investment that will grow in value over time.

各個年齡段的新加坡人都認為，公共住房是一項良好的投資，隨著時間的推移，其價值會不斷增長。

Even with growing concerns around surging demand, limited inventory and climbing prices,

即使人們對需求激增、庫存有限和價格攀升的擔憂與日俱增、

Singapore's unique approach to universal housing has attracted global curiosity, especially when many nations, and their citizens, are facing major housing challenges.

新加坡在普及住房方面的獨特做法吸引了全球的關注，尤其是在許多國家及其公民面臨重大住房挑戰的時候。

The Housing Authority is one of the most visited public institutions by heads of states and politicians and urban planners because they always hope to learn some lessons to replicate it in their own environment.

房屋委員會是國家元首、政治家和城市規劃者訪問最多的公共機構之一，因為他們總是希望吸取一些經驗教訓，以便在自己的環境中加以複製。

I know of friends who live in the US or UK.

我認識一些住在美國或英國的朋友。

So most of them either rent a house first because they left their house early and they need to pay rental every time and they can't afford a house at our age.

是以，他們中的大多數人要麼先租房子住，因為他們很早就離開了自己的房子，每次都需要支付租金，而他們在我們這個年紀是買不起房子的。

I would say we are considered quite privileged and lucky to be in Singapore.

我想說，我們能夠來到新加坡，已經算是非常榮幸和幸運的了。

So we are kind of looking forward to a house that's coming in 2029.

所以，我們有點期待 2029 年的房子。