Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220598
Title: DOES QUALIFYING CERTIFICATE EXTENSION CHARGE DETER SPECULATIVE ACTIVITIES BY DEVELOPERS?
Authors: ONG SU XIA
Keywords: Real Estate
RE
Li Qiang
2016/2017 RE
Issue Date: 17-May-2017
Citation: ONG SU XIA (2017-05-17). DOES QUALIFYING CERTIFICATE EXTENSION CHARGE DETER SPECULATIVE ACTIVITIES BY DEVELOPERS?. ScholarBank@NUS Repository.
Abstract: Foreign developers are increasingly stepping foot into Singapore’s private residential market. While their presences have valuable contribution to the diversity of housing in Singapore, these developers are also aggressive in the acquisition of land here. Therefore, the government implemented the Qualifying Certificate (QC) Extension Charge, to curb any possible speculative supply activities by developers. Restricted by a stipulated timeframe to construct and sell, this measure prevents developers from hoarding and land banking, regulating the supply of private housing in the market. This study endeavors to investigate the effectiveness of QC extension charge in deterring speculative supply and observe any significant impact of the policy on price and sale volume of the affected developments. Prices are hypothesized to experience a large decrease while sale volumes are expected to increase. To examine the change, the Linear Regression method is used to observe any significant change in the QC developments relative to the non-QC developments. The Linear Regression method reveals a slight significance in the coefficient of variation (CV) of sale price, indicating some activity of price control. However, there was no significant impact of the average sale price. On the other hand, the volume of sale showed apparent change in sale activity in QC developments relative to its control group. However, the values from the linear regression model were not significant enough to validate the hypothesis.
URI: https://scholarbank.nus.edu.sg/handle/10635/220598
Appears in Collections:Bachelor's Theses

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