ELECTION EFFECTS ON RESALE HDB PRICES
ISAAC LEO YEN
ISAAC LEO YEN
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Abstract
Housing Development Board (HDB) flats house the majority of the population. Their values constitute a substantial portion of household wealth. This paper examines the political economy of HDB resale flats. Hedonic and difference-in-differences regressions reveal that HDB flats in opposition wards transact at discounts to those in People’s Action Party (PAP) wards. Treatment effects are applied through the election dates. The Main Upgrading Programme (MUP) is also found to have a positive impact on HDB resale prices. A multinomial logistic regression shows that opposition wards face substantially reduced priority for the MUP. This is one of the reasons why opposition resale HDB flats transact at discounts.
Keywords
Real Estate, RE, Sing Tien Foo, 2015/2016 RE, HDB Flats, Housing Market, Main Upgrading Programme, Political Economy, Public Housing
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Date
2016-01-07
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Dissertation