Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223940
Title: EXAMINING BIDDING DYNAMICS IN RESIDENTIAL GOVERNMENT LAND SALES IN SINGAPORE
Authors: LUA CHANG ZHENG BEN
Keywords: Real Estate
Liow Kim Hiang
RE
2017/2018 RE
Issue Date: 4-May-2018
Citation: LUA CHANG ZHENG BEN (2018-05-04). EXAMINING BIDDING DYNAMICS IN RESIDENTIAL GOVERNMENT LAND SALES IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: This study examines the determinants of residential land bidding prices under the Residential Government Land Sales (GLS) Programme in Singapore. It contributes to the existing body of knowledge as it incorporates an extensive and up-to-date database to account for the recent period of property market slump and derive more reliable findings. In particular, the objective of this study is to identify and examine the impact of site characteristics and developer characteristics on residential land bidding prices. The study postulates that both site and developer characteristics will have a significant impact on residential land bidding prices. A Hedonic Pricing Model is utilised to identify the individual relationship of each variable on bidding prices, separately for both market upturn and downturn periods. The model is carried out by running two multiple linear regressions. It is also benchmarked against the Straits Times Index (STI) to study differences in bidding behaviour throughout the market cycle. The findings revealed that both site and developer characteristics have a significant impact on residential land bidding prices. Of which, two of the most impactful variables are both site characteristics, namely region and property type, as they resulted in the biggest percentage change in bidding prices. The stock market is found to have a positive relationship with bidding prices, as observed from the Straits Times Index (STI) dummy variable. This provides concrete insights on main determinants affecting bidding prices and contributes to the possible housing policy alterations. Measures can be taken for particular land parcels which exhibit tendencies to fetch high bidding prices to reduce the likelihood of excessively high pricing being passed down to consumers.
URI: https://scholarbank.nus.edu.sg/handle/10635/223940
Appears in Collections:Bachelor's Theses

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