Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/221824
DC FieldValue
dc.titleHOUSING PRICES AND ORIENTATION OF A RESIDENTIAL PROPERTY
dc.contributor.authorCHEW CHONG JIN
dc.date.accessioned2020-05-20T05:04:15Z
dc.date.accessioned2022-04-22T17:49:26Z
dc.date.available2020-06-10
dc.date.available2022-04-22T17:49:26Z
dc.date.issued2020-05-20
dc.identifier.citationCHEW CHONG JIN (2020-05-20). HOUSING PRICES AND ORIENTATION OF A RESIDENTIAL PROPERTY. ScholarBank@NUS Repository.
dc.identifier.urihttps://scholarbank.nus.edu.sg/handle/10635/221824
dc.description.abstractReal estate value is determined by the sum of its intrinsic and extrinsic values. It is a function of tangible and intangible attributes such as location and view as well as orientation. The value usually determined through the real estate’s ability to fulfil its function or utility to its owner. However, the orientation variable is often overlooked by many despite its importance in some countries. This paper seeks to understand the relationship between the physical orientation and price of a unit. With better understanding of how this attribute would affect its value, buyers can better price units they are seeking to purchase or invest in. In addition, the paper also seeks to add on to the limited literature regarding the topic and help to shed some light and insights for future studies. According to Real Estate Information System (REALIS), Singapore witnessed 50 thousand caveats lodged, a total of SGD$80 billion worth of transactions in the private condominiums sector in the past 5 years alone. In addition, as of 2019Q4, URA has approved 49,173 private units of private condominiums amounting to 52,365 sqm of space to be completed within the next 5 years. Therefore, Singapore has an active property market and information that could help better determine property prices is crucial to any buyer in the market. Understanding the importance of orientation will aid buyers when considering a property. In this paper, a total of 185 private residential unit transactions between 2015 to 2019 were obtained from REALIS. Using a hedonic pricing model, it was found that certain orientations resulted in higher price transacted. The results generally show South facing units tend to have a higher average price followed by East, West then North facing units. While prior studies in other countries also found higher prices for South facing properties, this is the only few studies that shows the relativity between the other orientations. This confirms that orientation and price is dependent on the latitude of its location. Due to limitations, some factors such as view, and sunlight reception were not fully explored in this paper and that might have resulted in the remaining orientations not agreeing with literature review. Overall, this paper has given us some insights on how orientation can play a part in price determination and allowed us to understand the impact it may have on price.
dc.language.isoen
dc.sourcehttps://lib.sde.nus.edu.sg/dspace/handle/sde/4766
dc.subjectReal Estate
dc.subjectRE
dc.subjectYu Shi Ming
dc.subject2019/2020 RE
dc.subjectResidential property orientaiton
dc.typeDissertation
dc.contributor.departmentREAL ESTATE
dc.contributor.supervisorYU SHI MING
dc.description.degreeBachelor's
dc.description.degreeconferredBACHELOR OF SCIENCE (REAL ESTATE)
dc.embargo.terms2020-06-10
Appears in Collections:Bachelor's Theses

Show simple item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
Chew Chong Jin 2019-2020.pdf744.47 kBAdobe PDF

RESTRICTED

NoneLog In

Page view(s)

35
checked on Feb 2, 2023

Download(s)

11
checked on Feb 2, 2023

Google ScholarTM

Check


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