Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223920
Title: ASSESSING ELEVATED LINEAR PARKS AND THE WILLINGNESS TO PAY � A CASE STUDY ON BUKIT TIMAH-ROCHOR GREEN CORRIDOR
Authors: MUHAMMAD NAZREEN BIN MOHD NOOR
Keywords: Department of Real Estate
RE
Real Estate
Malone Lee Lai Choo
2019/2020 RE
Issue Date: 8-May-2020
Citation: MUHAMMAD NAZREEN BIN MOHD NOOR (2020-05-08). ASSESSING ELEVATED LINEAR PARKS AND THE WILLINGNESS TO PAY � A CASE STUDY ON BUKIT TIMAH-ROCHOR GREEN CORRIDOR. ScholarBank@NUS Repository.
Abstract: Park policy in Singapore is guided by planning parameters like the Park Provision Ratio to safeguard people’s livability. Today however, Singapore is faced with pressures of population growth and land scarcity. Given limited land and competing land needs, it is not tenable to build more parks just to meet the Park Ratio. In 2019, the Bukit Timah-Rochor Green Corridor (BTRGC) was unveiled with an elevated linear park that would run above the canal. Such method becomes useful in exploring its prospects as a potential solution to park provision. Therefore, the study will evaluate the potential of elevated parks as a solution to park provision given a bigger population and land scarcity. The study will assess the perception on parks provision and investigate people’s willingness to pay (WTP) by valuing the BTRGC, using a Contingent Valuation. The study revealed a mean WTP of $12.23 per person for the BTRGC. The value placed on such amenity meant that Singaporeans were willing to pay that much to enjoy the benefits of parks although through elevated parks. This indicated an interest for such parks and should serve as motivation for planners to augment such amenity. The WTP also serves as an indication on how much the Government should spend on park provision. The BTRGC has an economic value of $39.3 million which can used as a proxy in a cost benefit analysis for its future expansion. Essentially, elevated parks mitigate the opportunity costs attributed to the use of “on ground” land, thus leading to an indirect land saving. This must be factored in the decision process of land allocation to ensure balance between social, economic and environmental needs.
URI: https://scholarbank.nus.edu.sg/handle/10635/223920
Appears in Collections:Bachelor's Theses

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