Sure, from a financial perspective, particularly around mortgages.
Singapore owns the HDB, which owns the leasing rights to 80%+ of all residential property and almost all land in the country. Issuing 99 year leases to citizens and PRs.
Imagine if the US government owned all land rights, built virtually all apartments and instigated racial quotas to match the demographics of the country; then subsidized the price drastically to make it affordable for the population. That's what Singapore does.
This isn't unique either.
The other libertarian wet-dream Hong Kong has a similar land-leasing policy. The major difference there is that 999 year leases were allowed at one point (rare and no longer issued).
In fact the only freehold property in Hong Kong is St John’s Cathedral.