DEVELOPMENT AND CHANGES TO PERCEIVED HOT AND COLD HOUSING ESTATES IN SINGAPORE �S HDB RESALE MARKETS

Abstract

This study looks at the impact of the Time-On-Market have on the transacted prices of resale units in the Singapore public housing segment. Through the examination and understanding of the relationship between the Time-On-Market and transacted prices of resale units in 6 pre-selected housing estates, it is found that there has been a shift in buyer sentiment from perceived ‘hot’ estates to ‘cold’ estates, giving proof to a recent observation by market players. Buyers priced out of popular estates move their purchases to previously less popular ones, giving the impression that their status has changed. However, this study found that it is more correct to say that the ‘hot’ estates has returned to a ‘normal’ state while once ‘normal’ estates, perceived to be ‘cold’ earlier on, became hot. Also, this study also found that changes in the Time-On-Market for the perceived ‘hot’ estates affect the Time-On-Market for the perceived ‘cold’ estates but not the other way round.