According to Singapore Population Trend 2010> by Statistics Singapore, if two persons can apply for one HDB flat, then potential demand for HDB flat should be 1.3 millions flats (total residents * percentage of age between 15-64 years /2). If consider Home Ownership Rate 88%, then demand will be 1.2m. At the same time, according to estimation, there is 1 millions flats available now (HDB annual report, 1m by end of 2010). So demand = 1.2 to 1.3 supply?
If we take average household size 3.5, then demand will be 1m, around the available flat number.
So currently the demand is mainly for new couples or investment. The population of age between 25-34 is 0.57m. Up to 22,000 flats will be launched in 2011 (HDB annual report).
So I don't see real huge gap for demand and supply, especially the determination of gov to fulfill the demand, and the modified policy to tighten migration.
(click to enlarge picture)
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