Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222786
Title: THE EFFECT OF COMPETITION ON PRICE SETTING BEHAVIOUR OF DEVELOPERS IN NEW PRIVATE HOUSING
Authors: LIN XINTAO
Keywords: Real Estate
RE
Ooi Thian Leong Joseph
2016/2017 RE
Competition
Degree of overpricing
New private housing price
Price setting
Residential housing market
Issue Date: 17-May-2017
Citation: LIN XINTAO (2017-05-17). THE EFFECT OF COMPETITION ON PRICE SETTING BEHAVIOUR OF DEVELOPERS IN NEW PRIVATE HOUSING. ScholarBank@NUS Repository.
Abstract: Price setting is the most challenging decision for housing developers. This dissertation research investigates developer’s price setting behavior of newly launched private residential housing projects in Singapore. Specifically, the degree of overpricing (DOP) for each sampled residential project is derived using hedonic model on a sample of 100 residential projects across Singapore. On average, developers overprice new units by 14.20%. The degree of overpricing is significantly lower if there is another new housing project launched by competitor in the same district. An increase in competition level with more than one competitor further lowers DOP significantly. Moreover, DOP can also be affected by developer’s characteristics as foreign developers tend to price 3% lower than local developers. The top five local developers in Singapore overprice considerably more than the rest when setting their prices.
URI: https://scholarbank.nus.edu.sg/handle/10635/222786
Appears in Collections:Bachelor's Theses

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