Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223317
Title: FIRST-AND-LAST-MILE MATTERS: IMPACT OF BIKE-SHARING ON HDB RESALE PRICES
Authors: ONG, JIA MIN
Keywords: Real Estate
Qin Yu
RE
2018-2019 RE
Issue Date: 15-May-2019
Citation: ONG, JIA MIN (2019-05-15). FIRST-AND-LAST-MILE MATTERS: IMPACT OF BIKE-SHARING ON HDB RESALE PRICES. ScholarBank@NUS Repository.
Abstract: Dockless bike-sharing enhances accessibility to public transportation for homeowners by improving first-and-last-mile connectivity between homes and public transport nodes such as Mass Rapid Transit (MRT) stations. This enhanced connectivity potentially influences homeowners’ desirability of living in close proximity to public transport nodes and distort the price premium they place on properties near to public transport nodes. With LTA constructing more cycling paths in Housing and Development Board (HDB) towns, there could also be greater effect of dockless bike-sharing on housing prices in these towns as compared to towns with cycling routes. Therefore, this paper aims to firstly investigate the general impact of dockless bike-sharing on HDB resale transaction prices and secondly the impact in towns with and without cycling routes. Using hedonic pricing model with difference-in-differences (DID) estimator, it was found that there is still a premium for HDB resale transacted units in the treatment group relative to the control group after the entry of bike-sharing. The premium is between 0.0567% and 1.62% for the treatment zones of 400m, 600m, 800m and 1,000m. For the investigation of the impact of bike-sharing in towns with and without cycling routes, hedonic pricing model with difference-indifference-in-differences (DDD) estimator was used. Interestingly, at the 1,000m-treatment zone, there is a greater reduction in premium for HDB units located in that treatment zone relative to units in the control group in towns with ICN compared to towns without ICN, after the entry of bike-sharing. This suggests that the cycling routes have enhanced the benefits of convenience and accessibility brought about by bike-sharing, therefore, a higher decrease in willingness to pay for accessibility benefit was observed. Analysis of primary data from the survey conducted further suggests there is reduced inclination by residents living in towns with ICN to pay for premium with increased accessibility brought about by bike-sharing.
URI: https://scholarbank.nus.edu.sg/handle/10635/223317
Appears in Collections:Bachelor's Theses

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