Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222281
Title: THE EFFECT OF DEVELOPER REPUTATION IN THE SINGAPORE PROPERTY MARKET
Authors: GOH SHU XIAN TIFFANY
Keywords: Real Estate
RE
Liao Wen Chi
2015/2016 RE
Issue Date: 7-Jan-2016
Citation: GOH SHU XIAN TIFFANY (2016-01-07). THE EFFECT OF DEVELOPER REPUTATION IN THE SINGAPORE PROPERTY MARKET. ScholarBank@NUS Repository.
Abstract: This dissertation examines the effects of developer reputation on property prices and quality within the Singapore non-landed private residential market during 2004 to 2009. It attempts to answer 3 research questions of whether REDAS members are able to command a premium on property prices over developments by non-REDAS members; whether developer reputation matters more in the presales market or the resales market; and to test the deterioration rate of developments built by REDAS members. As a robustness check, Far East Organisation was removed in the later part of the study and regressions for the 3 hypotheses were re-run. Firstly, developments by REDAS members were found to command a premium on property prices. The important implication is that developer reputation is an effective signal for quality because it is firm-specific. Hence, the provision of good quality developments is recommended. Secondly, developer reputation was found to matter more in the presale market. The rationale behind this is that presale property buyers who want to lock-in on current market prices would be more willing to pay a premium for a developer whom they can trust will produce good quality developments. Thirdly, developments by non-REDAS members have slower rates of depreciation. This could be due to better maintenance of the property. After Far East Organisation was removed from the study, results were more positive, indicating the possibility that they may have poor reputation. Going forward, given that Singapore has opened the market to more foreign developers, further studies should be done on recent data.
URI: https://scholarbank.nus.edu.sg/handle/10635/222281
Appears in Collections:Bachelor's Theses

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