ANALYSIS OF EXPRESSWAY ACCESSIBILITY ON HOUSING PRICES USING GIS APPLICATIONS

Abstract

This paper examines the impact of expressway accessibility in Singapore on public residential resale prices, using different transportation accessibility measures. This research is the first local study conducted to compare and evaluate the suitability, and relative accuracy of Euclidean Distance and Driving Time as a travel cost. The Euclidean Distance sample was found to be less accurate, and it underestimated the positive price impact by at least 2%. Such a finding has significant ramifications, as it implies that all future studies regarding expressways or road network in Singapore should consider incorporating driving time as a more accurate travelling cost.

This research also contributes to the lack of literature on expressway accessibility in Singapore. Using Kallang Paya-Lebar Expressway (KPE) as the case study, hedonic Difference-in-Differences regression showed that there is an overall positive price impact of KPE on neighboring public housing. Generally, public residential units within 6 minutes of driving time to KPE have experienced at least 3.18% increase in resale prices.

A Geographic Information System based predictive map was constructed to showcase the impact of the upcoming North South Corridor (NSC) on neighboring public housing. This is the first driving time-based analysis of NSC in Singapore. Factoring into consideration negative externalities such as noise, the estimated impact of NSC is predicted to be net positive, as the average percentage increase in prices across the five planning areas examined is 4.20%. This translates into at least 1.57 billion Singapore dollars increase in resale prices across the Woodlands, Sembawang, Yishun, Ang Mo Kio and Bishan due to NSC.