Widespread homeownership has traditionally been considered a favourable factor for the stability of democracies in Europe and America. Analysis of variance in perceived legitimacy between Singapore and Hong Kong suggests that the stabilising effect of widespread homeownership does not only apply to democracies, but also to authoritarian regimes. This article proposes that a regime, be it democratic or not, tends to enjoy a higher level of legitimacy when homeownership is more popular, ceteris paribus. Our finding sheds light on the conventional wisdom on several scores, particularly by extending the analysis of the political impacts of homeownership to Asian countries, and reaffirming its importance in maintaining political stability. Copyright © 2012 The Authors.