EFFECT OF CONSERVATION AREA ON SURROUNDING RESIDENTIAL PROPERTY PRICES.

Abstract

The dissertation attempts to analyze if the proximity to a conservation area does have a price impact on private and public property. While further studying whether both private and public housing have the same or different price impact due to proximity to conservation. While understanding if the importance placed on living close to a conservation area has increased or decreased over time. The four main historical area, Kampong Glam, Little India, Chinatown and Boat Quay is used for this study. Preliminary analysis showed that private and public housing have contrasting price effects from the proximity to conservation area. Further analysis showed that for Little India, Chinatown and Boat Quay, results are actually similar for both private and public housing, except for Kampong Glam results which is not statistically significant. Over time, the importance placed on living close to a conservation area has decreased for public housing, while results for private housing is not statistically significant.