Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/224009
Title: DETERMINANTS INFLUENCING THE SUCCESS OF COLLECTIVE SALES IN SINGAPORE
Authors: HO JEE SHIUN
Keywords: Real Estate
Lum Sau Kim
2011/2012 RE
Collective sales
En-bloc sale
Issue Date: 25-May-2012
Citation: HO JEE SHIUN (2012-05-25). DETERMINANTS INFLUENCING THE SUCCESS OF COLLECTIVE SALES IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: Collective sales have rejuvenated the urban landscape of Singapore but despite the enactment of facilitating legislation, their success is by no means assured. Hence, this dissertation aims to establish an in-depth understanding of the factors that influence the likelihood of a successful collective sale since the Land Titles (Strata) Amendment Act of 1999. Previous literature suggests that the determinants of success include site area, number of owners, market conditions, land tenure, land cost, location, supply of state land, and number of attempts at a collective sale. This specification was tested using the logistic regression model for a sample of 306 private residential developments that attempted a collective sale, 247 of which were successful. The fitted model has high predictive power. The empirical results indicate that site area, market conditions and land cost are significant in affecting the outcome of collective sales. Further, sites located in the prime area and with freehold tenure possess high odds to achieve success in a collective sale exercise. All things being equal, small sites are more likely to be sold collectively, suggesting that the high price tags of large sites have reduced the demand for such parcels. Likewise, low land costs are more likely to attract bidders in collective sale tenders as developers are allowed to attain higher profits. However, the finding is somewhat puzzling as a lower property price index is more likely to increase the likelihood of a collective sale.
URI: https://scholarbank.nus.edu.sg/handle/10635/224009
Appears in Collections:Bachelor's Theses

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