Mayor Sadiq Khan has announced a £100 million investment to build 7,000 homes in East London, drawing inspiration from the Singapore model where the State drives direct development. The promise is that 30% of the homes will be affordable, a measure aimed at alleviating the housing crisis in the British capital.
The Singapore model and its technical limits in London 🏗️
Singapore builds 80% of its homes thanks to state control of land and centralized planning. In London, the City Council lacks that massive land ownership and local bureaucracy is more complex. The plan involves agreements with private developers and municipalities, which slows down timelines. Furthermore, Singapore's political stability contrasts with government changes in the UK, which can alter funding priorities and urban planning regulations.
Affordable homes, but without Singapore's climate 🌧️
The idea sounds good on paper: build like in Singapore, where the government literally gives away houses. But in London, 30% affordable means the other 70% will still cost an arm and a leg. And while in Singapore the land belongs to the State, here the land belongs to an investment fund expecting capital gains. Perhaps the only thing both cities share is the humidity.