BENEFITS OF VERTICAL GREENERY SYSTEM: A PRELIMINARY STUDY OF THEIR ASSOCIATIONS TO WILLINGNESS TO PAY WITH REGARDS TO CONDOMINIUM RESIDENTS IN SINGAPORE

Abstract

Given Singapore lack of land resources, there have been attempts by the Singapore government to look at alternatives in urban development. This is important in ensuring that the presence of nature not be removed from our landscapes. Therefore it is important to look at Vertical Greenery Systems (VGS), as an alternative urban development approach that can be incorporated into the current built environment. Despite the government’s attempts at promoting VGS through initiatives and plan like the incorporation of skyrise greenery, there has not been any significant change in the residential aspects in Singapore, given that they form the majority of the city landscape. Therefore this paper seeks to study the Willingness-To-Pay (WTP) of residents, given that they are the building stakeholders often overlooked when charting the future of urban development. The study conducted survey questionnaire with the results analysed to help determine the WTP of residents with regards to specific preferences and demographical background. The results highlight that there has been an increase in the information treatment on the WTP of residents, which suggest that there more can be done to increase demand amongst consumers for implementation of VGS. Overall benefits have an increase in the WTP of VGS, with information treatment increasing WTP as well. Environment benefits are most sought after amongst respondents, with this factor providing most change in the WTP, whilst economic benefits are the least sought after amongst respondents. However demographical factors are not found to have strong relationship with WTP for VGS.