Neighbourhood Price Resilience: The Role of Locational Attributes

Abstract

This dissertation investigates the impact of accessibility on property price resilience in a neighbourhood, in the event of an exogenous economic shock. Price resilience is measured using price variability indicators, namely standard deviation and coefficient of variation. Employing hedonic price regression and multiple linear regression models using property transactional data, the first study identified the difference in price resilience across different planning areas, while the second study indicated a negative relationship between distance to nearest MRT station and the price resilience in a planning area. The main study is extended to analyzing difference in price resilience across different time episodes of an exogenous shock.