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https://scholarbank.nus.edu.sg/handle/10635/222543
DC Field | Value | |
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dc.title | PRICE MOVEMENTS OF PRIVATISED EXECUTIVE CONDOMINIUMS AGAINST PRIVATE CONDOMINIUMS | |
dc.contributor.author | NUR HENDRIYANTY HIDAYAH BINTE AHMAD | |
dc.date.accessioned | 2014-05-07T09:24:21Z | |
dc.date.accessioned | 2022-04-22T18:09:55Z | |
dc.date.available | 2019-09-26T14:14:06Z | |
dc.date.available | 2022-04-22T18:09:55Z | |
dc.date.issued | 2014-05-07 | |
dc.identifier.citation | NUR HENDRIYANTY HIDAYAH BINTE AHMAD (2014-05-07). PRICE MOVEMENTS OF PRIVATISED EXECUTIVE CONDOMINIUMS AGAINST PRIVATE CONDOMINIUMS. ScholarBank@NUS Repository. | |
dc.identifier.uri | https://scholarbank.nus.edu.sg/handle/10635/222543 | |
dc.description.abstract | Unlike private housing, Executive Condominiums (EC) as quasi-public housing to meet the accommodation needs of the sandwiched middle class are subjected to resale restrictions. EC owners, after fulfilling the 5-year-owner-occupation period, are permitted to resell their properties in the open market but only to citizens and permanent residents during the 6th to the 10th year (Semi-Privatised Period 1). The said resale restriction is completely lifted from the 11th year onwards (Fully-Privatised Period 2), whereby ECs are also open to purchase by foreigners and corporate bodies. This study investigates and compares the price movements of ECs during Period 1 with that in Period 2. It also compares the price movements of ECs during Period 2 with those of comparable Private Condominiums (PC). The baseline hypothesis is that a relaxation of resale restriction in Period 2 will widen the pool of potential buyers and hence will trigger a higher rate of capital appreciation relative to that in Period 1. The other related issue is whether there will be a convergence in prices between ECs and comparable PCs in Period 2. The hypotheses are investigated via the construction of hedonic price indices of 4 EC projects and 4 other comparable PC projects. The data for the study comprises 1,675 resale transactions from 4 EC projects and 1,422 resale transactions from 4 comparable PC projects spanning from Quarter 4 of 2005 to Quarter 4 of 2013. An analysis of the 4 pairs of hedonic price indices yields the following findings: • The average quarterly percentage change in EC prices for Period 2 (Fully-Privatised) is greater than that of Period 1 (Semi-Privatised). This result is in conformity with the prior expectations about the positive impact of de-regulation on prices. • The average quarterly price ($ per sq m of floor area) of ECs in Period 2 did not converge or surpass that of the PCs. • The quarterly percentage changes in EC prices in both Period 1 and Period 2 exceed that of the corresponding ones of the overall URA Price Index for Condominiums. This could account for the positive responses to new EC launches during the past 2 years and the perception that ECs also constitute a good investment in terms of potential capital appreciation. | |
dc.language.iso | en | |
dc.source | https://lib.sde.nus.edu.sg/dspace/handle/sde/2541 | |
dc.subject | Real Estate | |
dc.subject | SDE | |
dc.subject | Cheng Fook Jam | |
dc.subject | Executive Condominium | |
dc.subject | Price Movements | |
dc.subject | Private Condominium | |
dc.subject | Hedonic Regression | |
dc.subject | RE | |
dc.subject | 2013/2014 RE | |
dc.type | Dissertation | |
dc.contributor.department | REAL ESTATE | |
dc.contributor.supervisor | CHENG FOOK JAM | |
dc.description.degree | Bachelor's | |
dc.description.degreeconferred | BACHELOR OF SCIENCE (REAL ESTATE) | |
dc.embargo.terms | 2014-06-03 | |
Appears in Collections: | Bachelor's Theses |
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Nur Hendriyanty Hidayah 2013-2014 RE.pdf | PRICE MOVEMENTS OF PRIVATISED EXECUTIVE CONDOMINIUMS AGAINST PRIVATE CONDOMINIUMS | 987.72 kB | Adobe PDF | RESTRICTED | None | Log In |
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