Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220560
Title: THE IMPACT OF PLACES OF WORSHIP ON HDB RESALE PRICES
Authors: LEE KAH LIANG
Keywords: Real Estate
RE
Masaki Mori
2016/2017 RE
Externalities
HDB Resale prices
Hedonic model
Places of Worship
Singapore
Issue Date: 22-May-2017
Citation: LEE KAH LIANG (2017-05-22). THE IMPACT OF PLACES OF WORSHIP ON HDB RESALE PRICES. ScholarBank@NUS Repository.
Abstract: In light of the rising religiosity in Singapore, this paper seeks to investigate the relationship between places of worship (PoWs) and the prices of neighbouring residential properties. It addresses the question of whether different types of PoW positively or negatively affect the value of adjacent HDB flats and seeks to quantify the magnitude of this impact. It is found, through hedonic analysis of 24,623 transactions from a 1-kilometre area surrounding each of the four types of PoW, flats within close proximity to Chinese Temple, Mosque and Catholic Church (except Protestant Church) generally commands an average of 4.9% price premium up to a distance of at least 400m. Furthermore, the magnitude of impact generally increases with decreasing distance to PoWs. These empirical findings will be of interest to HDB dwellers and the planning authorities.
URI: https://scholarbank.nus.edu.sg/handle/10635/220560
Appears in Collections:Bachelor's Theses

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