Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/219763
Title: MARKET SENTIMENT IN THE SINGAPORE PRIVATE
Authors: GOH SEO HIAN JULIAN
Keywords: Real Estate
Master (Real Estate)
Sing Tien Foo
2010/2011 RE
Issue Date: 23-May-2011
Citation: GOH SEO HIAN JULIAN (2011-05-23). MARKET SENTIMENT IN THE SINGAPORE PRIVATE. ScholarBank@NUS Repository.
Abstract: This study investigates the role of market sentiment in the private residential market in Singapore. Classical finance theory has not been able to satisfactorily explain the boom and bust cycles in the property market. While there is growing agreement that sentiment has a role to play to explain market behaviour, there has been limited research on this for the Singapore property market. This study seeks to contribute towards filling in this research void. This study surveyed the views of buyers and sellers of private residential properties transacted in Singapore from May-July 2010. The aim is to draw out the thinking and views of the individual market players in the Singapore private residential market, and by doing so, gain insights into the motivations behind their decisions. The period of the survey falls within a timeframe when the Singapore Government has taken policy measures to address growing concerns about the formation of a property bubble in the market. The study shows a clear divergence in views between buyers and sellers, notwithstanding broad agreement on the factors driving the property market. This reinforces the role of sentiment in driving the market, as opposed to a fully rational approach required by the classical finance theory. The study also uncovers views that are consistent with the psychology behind the formation of bubbles, in driving the decisions of property buyers. The actions taken by the Singapore Government to cool the market was therefore timely in this regard.
URI: https://scholarbank.nus.edu.sg/handle/10635/219763
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