Ep. 514: Real Estate Lessons from Singapore
Guest: Ernest Lang, Promerita
“We can learn a few things from Singapore,” says Ernest Lang, the founder and CEO of Promerita Group.
“Singapore has been getting housing right for many decades. In fact, it has found a way to make most of its housing affordable whilst also protecting the value of privately owned homes.”
According to a report by the Urban Land Institute, “private homes in Singapore are the most expensive in Asia” with an average value of $1.7 million US. However, the ULI report states that public housing in Singapore is the “most attainable” when it comes to home ownership – 90 percent of the people in the country own their home.
Lang says, “Even more remarkable is the cost in relation to median annual income. In Singapore, the median home price to income ratio is 5. In Vancouver, according to Rates.ca, the average home price is 249% more than an average household can afford.”
How and what are they doing in Singapore that we can learn from?
We invited Ernest Lang of Promerita to join us for a Conversation That Matters about Singapore’s housing market and what lessons we could apply here.
Want to learn more about our guest?
Check out their profile on our partnered program, Careers That Matter!
