Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/221595
Title: OWNERSHIP CONCENTRATION AND MARKET POWER IN SINGAPORE LAND AUCTIONS
Authors: LEE JIA RONG DAWN
Keywords: Real Estate
Land auctions
Issue Date: 31-May-2010
Citation: LEE JIA RONG DAWN (2010-05-31T08:46:09Z). OWNERSHIP CONCENTRATION AND MARKET POWER IN SINGAPORE LAND AUCTIONS. ScholarBank@NUS Repository.
Abstract: The determination of land pricing is of fundamental importance to developers and real estate researchers. Developers are known to bid aggressively when faced with intense competition. Thus, a higher winning price for the land is expected in the process. This dissertation seeks to investigate the factors leading to firm’s entry decision in a land tender. The paper also aims to examine the notion that developers are capable of exercising their market power to influence winning land tender prices in different regions and the whole of Singapore, at the aggregate level. The findings revealed that Developers are aware of their competitor’s presence in the area and its associated level of competition. This determines their entry into the land tender bidding. However, developers generally do not consider their competitors and the region which the plot resides in submitting their land bid. The attractiveness of the land parcel given by accessibility and proximity to the central business district are of foremost importance in ascertaining land price. The findings also shed light into the relationship between agglomeration concentration and winning land price. The overall Singapore and six regions were examined to analyze the type of market structure. In regions where there is the presence of dominant firms who hold high market shares, these firms have the ability to influence winning land prices. However, the lack of competition among developers has led to a decrease in the selling price of the land. Interestingly, the results showed the density of the plot contributes to the overall importance in determining land pricing.
URI: https://scholarbank.nus.edu.sg/handle/10635/221595
Appears in Collections:Bachelor's Theses

Show full item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
Lee Jia Rong Dawn 2009-2010.pdf3.46 MBAdobe PDF

RESTRICTED

NoneLog In

Page view(s)

9
checked on Dec 1, 2022

Download(s)

3
checked on Dec 1, 2022

Google ScholarTM

Check


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