Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222554
Title: THE IMPACT OF PLACES OF WORSHIP ON HOUSING PRICES
Authors: DINIE AZHARI BIN HASHIM
Keywords: Real Estate
Tu Yong
RE
2017/2018 RE
Issue Date: 13-Dec-2017
Citation: DINIE AZHARI BIN HASHIM (2017-12-13). THE IMPACT OF PLACES OF WORSHIP ON HOUSING PRICES. ScholarBank@NUS Repository.
Abstract: This research paper posits that places of worship have an impact on surrounding residential units. Thus, this research seeks to explore whether there is a price premium or price discount attached to residential units located in close proximity of a Place of Worship. Next, it seeks to determine if the different types of Places of Worship will have varied impacts on housing prices. Lastly, it seeks to investigate if the population of a religious group in a town will enhance the prices of residential units located in close proximity of their respective Place of Worship. The Hedonic Pricing Model was adopted to study the impacts on housing prices. Through this study, it was determined that HDB units that are within 100 metres of a Place of Worship will face a price discount of 1.3% as compared to units that are not. In addition, living within 100 metres of a Chinese Temple will bring about a price discount of 7.3% while living within 100 metres of a Church will bring about a price premium of 9.0%. For Hindu Temples and Mosques, there was no empirical evidence to suggest any impacts on housing prices. Lastly, the presence of Buddhist/Taoist and Christian population present in a town will result in a price premium of 1.1% and 0.7% respectively while the presence of Hindus and Muslim population will still result in a price discount of 37.6% and 0.3% respectively for HDB units located within 100 metres of the places of worship.
URI: https://scholarbank.nus.edu.sg/handle/10635/222554
Appears in Collections:Bachelor's Theses

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