Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223078
Title: A TIMELINE ANALYSIS ON THE IMPACT OF A HOSPITAL ON RESIDENTIAL PROPERTY PRICES
Authors: ANG JUN SHENG NICHOLAS
Keywords: Real Estate
RE
Lum Sau Kim
2015/2016 RE
HDB
Hedonic
Hospital
Issue Date: 6-May-2016
Citation: ANG JUN SHENG NICHOLAS (2016-05-06). A TIMELINE ANALYSIS ON THE IMPACT OF A HOSPITAL ON RESIDENTIAL PROPERTY PRICES. ScholarBank@NUS Repository.
Abstract: This paper demonstrates how the presence of a hospital in a neighbourhood is capitalised into house prices during the post-announcement, construction, and post-completion phases. Hospitals located near homes are valued for the benefits of spatial proximity, but may also be a source of inconvenience to residents. A controlled study was carried out on Khoo Teck Puat Hospital which was the first hospital to be developed post-SARS, Property prices within an influence area 500m away from the hospital and a control area located beyond this buffer were analysed using a constant-elasticity hedonic pricing model for each time period. An alternative model testing for non-linearity in elasticities was also tested. The regression results indicate significant results suggesting that homes within the influence area enjoyed between 3% to 9% premiums over the control area, contrary to expectations that net negative externalities in some periods would depress home prices
URI: https://scholarbank.nus.edu.sg/handle/10635/223078
Appears in Collections:Bachelor's Theses

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