Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222342
Title: THE PROXIMITY EFFECT OF A COLUMBARIUM ON THE PRICES OF HDB RESALE FLATS
Authors: LIM KIAN WEI ANDY
Keywords: Real Estate
RE
Cheng Fook Jam
2015/2016 RE
Benefits
Columbarium
Cremation
Dead
Factors affecting property prices
Resale property prices
Taboos
Issue Date: 4-May-2016
Citation: LIM KIAN WEI ANDY (2016-05-04). THE PROXIMITY EFFECT OF A COLUMBARIUM ON THE PRICES OF HDB RESALE FLATS. ScholarBank@NUS Repository.
Abstract: This dissertation investigates the proximity effect of a columbarium on the resale prices of HDB flats located in the vicinity of Bright Hill Temple, Church of Saint Teresa, and Yishun Columbarium. Besides understanding residents’ perception of a reasonable buffer distance between a columbarium and their HDB flats, it also seeks to examine the willingness of potential homeowners to purchase HDB flats within close proximity to a columbarium. Although public housing constitutes the dominant form of residential living in Singapore, there is however a paucity of academic research on the externality effect of a columbarium on property prices. This study therefore aims to bridge this research gap, thereby contributing to the extant literature on public housing in Singapore. This research includes the use of a multiple linear regression analysis to establish if resale prices are affected when HDB flats are situated near to a columbarium. The empirical results suggest that, at a 5% statistical significance level, prices of properties within 550m of a columbarium are affected negatively. A complementary survey indicates that 85.0% of the respondents would not purchase a HDB flat within close proximity to a columbarium. The reasons cited include the dis-amenity effect of traffic congestion and noise generated by activities associated with ‘Qing Ming’ and the ‘Hungry Ghost Month’. In addition, 37.0% of the respondents indicated that they would prefer a columbarium to be situated more than 701m away from their flats. The results from this study will help government agencies and planners to better calibrate the effects of negative externalities within public housing estates by weighing the needs and preferences of affected households. Homeowners will also better understand the different factors affecting the resale prices of their HDB flats.
URI: https://scholarbank.nus.edu.sg/handle/10635/222342
Appears in Collections:Bachelor's Theses

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