Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/221258
Title: BRINGING THE PARK INTO THE HOME: THE VALUE OF GREENERY IN CONDOMINIUMS
Authors: KOH SWEE JIN
Keywords: Real Estate
Private condominiums
Singapore
Greenery
Hedonic Regression Model
Proximate principle
Price premium
RE
Addae-Dapaah Kwame
2013/2014 RE
Issue Date: 21-May-2014
Citation: KOH SWEE JIN (2014-05-21). BRINGING THE PARK INTO THE HOME: THE VALUE OF GREENERY IN CONDOMINIUMS. ScholarBank@NUS Repository.
Abstract: Greenery is an attribute that is gaining focus today as more people recognise that it needs to be preserved amidst rapid urbanisation and development. This dissertation aims to determine the price premium that greenery brings to a condominium, and if condominiums with more greenery display a price premium over other condominiums with less greenery. The confirmation of this would testify that the proximate principle applies even if the greenery is within the residential compound. It is hypothesised that there is a positive relationship between the area of greenery in a condominium project and the resale price of its units. The hypothesis will be tested using hedonic regression analysis of 132 sets of resale housing transactions from 12 selected condominiums in District 15. The study finds that units in condominiums with greenery do enjoy a price premium, and that there is a higher price premium if the condominium has more greenery. The premium is discovered to be $1.13psf of the condominium unit. However, the price premium caused by greenery is less than that of other facilities. This could be due to buyers’ lower expected utility of greenery, leading to their lower willingness-to-pay (WTP) for the facility, as shown by the survey results.
URI: https://scholarbank.nus.edu.sg/handle/10635/221258
Appears in Collections:Bachelor's Theses

Show full item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
Koh Swee Jin 2013-2014.pdf8.32 MBAdobe PDF

RESTRICTED

NoneLog In

Page view(s)

16
checked on Jan 26, 2023

Download(s)

3
checked on Jan 26, 2023

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.