Please use this identifier to cite or link to this item:
https://scholarbank.nus.edu.sg/handle/10635/221126
DC Field | Value | |
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dc.title | IMPACT OF CITY CENTRES ON PROPERTY VALUES IN SINGAPORE | |
dc.contributor.author | FENG SHUZHEN | |
dc.date.accessioned | 2012-05-18T03:48:11Z | |
dc.date.accessioned | 2022-04-22T17:28:41Z | |
dc.date.available | 2019-09-26T14:13:59Z | |
dc.date.available | 2022-04-22T17:28:41Z | |
dc.date.issued | 2012-05-18 | |
dc.identifier.citation | FENG SHUZHEN (2012-05-18). IMPACT OF CITY CENTRES ON PROPERTY VALUES IN SINGAPORE. ScholarBank@NUS Repository. | |
dc.identifier.uri | https://scholarbank.nus.edu.sg/handle/10635/221126 | |
dc.description.abstract | This study investigates the price-distance gradient from the central business district (CBD) in the modern metropolitan city of Singapore. The objective is to test if the city violates the assumptions of the monocentric model. Results show that there is a lack of consistent support for a monotonically negatively price gradient in the city state. Therefore, the paper also attempts to verify if the cause of the insignificant price gradient from CBD is attributed to the influence from another city centre. To do so, the paper identifies two subcentres within the Central Region of Singapore using the theory of agglomeration economies. The commercial district at Raffles Place and Marina Bay, and the Orchard Road shopping district, are observed to be the top two most distinctive areas of agglomeration economies. Therefore, they are hypothesised to have respective impact on property values in the Central Region of Singapore. Results are in favour of the hypothesis which states that each subcentre has important effect on property values. Moreover. Orchard is found to be the dominant city centre. In addition, houses located equi-distant from both subcentres command a premium compared to those which are not. The second objective of the paper attempts to ascertain the impact of proximity to each city centre on the price of condominium and apartment houses. Dummy variables of distance buffer zones are introduced simultaneously into the regressions. It is found that both city centres have a positive impact on the house values. Homeowners pay a premium for houses in close proximity to city centre, indicating a high threshold of negative externalities such as noise, pollution and traffic congestion generated from the activities in the city centre. | |
dc.language.iso | en | |
dc.source | https://lib.sde.nus.edu.sg/dspace/handle/sde/1915 | |
dc.subject | Real Estate | |
dc.subject | Addae-Dapaah Kwame | |
dc.subject | 2011/2012 RE | |
dc.subject | City Centres | |
dc.subject | Property values | |
dc.subject | Singapore | |
dc.type | Dissertation | |
dc.contributor.department | REAL ESTATE | |
dc.contributor.supervisor | ADDAE DAPAAH KWAME | |
dc.description.degree | Bachelor's | |
dc.description.degreeconferred | BACHELOR OF SCIENCE (REAL ESTATE) | |
dc.embargo.terms | 2012-06-01 | |
Appears in Collections: | Bachelor's Theses |
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