Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/221352
Title: THE SPILLOVER EFFECTS OF PUBLIC RENTAL PROPERTIES IN SINGAPORE
Authors: WU, JING HUI
Keywords: Real Estate
RE
Li Qiang
2018/2019 RE
Issue Date: 29-Apr-2019
Citation: WU, JING HUI (2019-04-29). THE SPILLOVER EFFECTS OF PUBLIC RENTAL PROPERTIES IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: Public Rental Scheme (PRS) is the main programme in Singapore for low-income public rental properties, where Housing and Development Board (HDB) provides heavily subsidised 1- and 2-room rental flats for low-income households not earning more than a monthly household gross income of $1,500. In order to prevent concentration of poverty and also to promote social integration, rental properties are thinly dispersed across Singapore and situated alongside with blocks of sold flats. On top of that, these rental properties vary in upgrading status and project sizes, with different number of rental blocks forming a cluster in some neighbourhood. This research paper seeks to analyse the spillover effects of public rental properties, with the objective to examine the impact of variations in them, in terms of upgrading status and project sizes, on housing prices within 100m. Hedonic regression was carried out to analyse the spillover effects. Sold housing located within 100m to rental properties face a significant price discount of 2.22%. The effect of having upgraded rental properties within 100m produces an additional enhancement of 1.31% on housing prices. However, the effect of having more rental blocks within 100m does not result in a significant reduction on housing prices. Upon stratifying the sample size into the different sold flat types, the research findings have shown that the spillover effects of rental properties on larger flat types have a lower level of significance. Currently, the government is planning to build more Build-To-Order (BTO) flats which integrate both rental and sold flats within the same block from the onset. Given a significant and negative proximity effect of locating within 100m to rental properties, a more immediate placement of rental properties to sold flats may not be the most desirable move. In addition, the positive effect of having upgraded rental properties within 100m necessitates the implementation of upgrading programmes to rental properties, so as to minimise the negative proximity effect of locating close to them.
URI: https://scholarbank.nus.edu.sg/handle/10635/221352
Appears in Collections:Bachelor's Theses

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