HDB FLAT UPGRADERS IN THE PUBLIC HOUSING MARKET

Abstract

With about 90% of the public housing dwellers in Singapore owning the flats they live in, the concern of the households has switch from home ownership to a more notable trend in of home upgrading since 1990. Hence, the aim of this study is to evaluate this trend during this poor economy outlook. The findings show that the present profile of HDB flats upgraders has an important impact on their upgrading decision. For example the level of income affects the type of flats demanded and also high previous records of residential mobility movement exerts a greater tendency for these households to move again in future. In addition, the examined groups of upgraders (from resale and direct HDB market) behave differently in their upgrading decisions e.g. type of flats demanded and housing location preferences. The study also found out that there is a positive correlationship between the popularity of an estate and the housing price in that location. All these findings have important implications, as understandings upgraders' characteristics, mobility patterns and preferences and needs is an important and integral part of any marketing effort for housing providers and property agents in locating their potential clients. All these help policy makers and key players in the property market to take into account in making their decisions and subsequently the repercussion impacts.