After Singapore established its autonomous government in 1959, it began prioritizing investment in housing construction. To institutionalize the social function of housing, the government launched the "home ownership for all" plan in 1964. The aim of this plan was to provide public housing for residents who were unable to enter the real estate market, thus ensuring the healthy development of the housing market. The Singaporean government actively promoted housing construction to meet the housing needs of the vast middle and low-income groups by enacting relevant laws and regulations such as the Housing Development Act.

The implementation of the "home ownership for all" plan mainly involves two aspects: HDB flats (public housing) and private properties. HDB flats are affordable public housing built by the government, targeting middle and low-income groups, emphasizing the social and residential functions of housing. Private properties, on the other hand, are developed and built by private real estate developers, supplied entirely at market prices, serving both as residential spaces and investment assets. This hierarchical housing supply model enables Singapore's housing market to meet diverse needs while maintaining stability.

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Singapore's success is not only reflected in the implementation of its housing policies but also in its understanding and respect for its multicultural society. As a country with diverse ethnicities, religions, and languages, the Singaporean government understands the importance of belonging to national stability and social harmony. Therefore, when formulating housing policies, the government fully considers the needs of different social groups, ensuring fair distribution of housing resources.

In contrast, Hong Kong faces more severe housing issues. Low per capita living space, high housing price-to-income ratios, and a low proportion of self-owned housing make it difficult for many families to afford housing. This sharp contrast with Singapore's "home ownership for all" policy highlights Singapore's successful experience in addressing housing issues.

Singapore's successful experience provides valuable lessons for other countries. Governments should prioritize housing issues, actively promote housing construction by formulating relevant policies and regulations, ensuring that every resident can have stable housing. Additionally, governments should also prioritize the needs of a multicultural society, ensure fair distribution of housing resources, and promote social harmony and stability.