Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/220670
Title: IMPACT OF THE IMPLEMENTATION OF SMART HOME TECHNOLOGY ON PRIVATE RESIDENTIAL PRICES IN SINGAPORE
Authors: FELICIA TAN
Keywords: Real Estate
Yu Shi Ming
RE
2017/2018 RE
Issue Date: 30-Apr-2018
Citation: FELICIA TAN (2018-04-30). IMPACT OF THE IMPLEMENTATION OF SMART HOME TECHNOLOGY ON PRIVATE RESIDENTIAL PRICES IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: With Singapore moving towards being a smart nation, one of the focus is to leverage on technology to enhance the urban landscape of Singapore, by making it more sustainable and liveable. The potential of smart technology is harnessed when incorporated in homes by providing innovative smart solutions to homeowners. As smart home is a relatively new housing concept, research regarding the price premium of smart homes in Singapore is limited. This study aims to provide a deeper understanding of the implementation of smart home technology and its effect on housing prices. Using the hedonic pricing model, a price premium of 3.85% was derived for smart home developments as compared to conventional housing projects. The price premium of smart homes could be attributable to the benefits of adopting smart home technology such as increased convenience, security, cost savings and environmental benefits. Furthermore, the differences in price premium for different smart home technologies were explored. The results revealed that smart home technology catering for convenience has a higher price premium of 7.38% compared to smart home technology used for security purposes with a price premium of 1.21% In addition, it was suggested that smart homes in prime districts command a price premium of 8.43%, whereas smart home in suburban district has a higher price premium of 9.87%. Lastly, this research seeks to bring out the importance of smart homes in Singapore context by looking at the trends of smart homes, different types of smart home technologies offered in the market by developers and identifying what constitutes a smart home in the local context.
URI: https://scholarbank.nus.edu.sg/handle/10635/220670
Appears in Collections:Bachelor's Theses

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