A good summary of why Public Housing Prices are high in Singapore, what policies made this happen and remedy suggestions (I think both should be applied).
One feasible suggestion I’ve seen on the Internet is to reduce the loan tenure gradually to 15-20 years. Shortening this, helps Singaporeans to be free of their housing debt earlier and enables them to start accumulating savings for retirement. […]. The other approach is to limit the amount of CPF money that can be used…but that has to be seen in a larger context as my main concern with CPF is the low fixed returns relative to inflation so proper management of CPF has to come first.