Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/224101
Title: EFFECTS OF NEIGHBOURHOOD CHARACTERISTICS ON PUBLIC-PRIVATE HOUSING MOBILITY AND PRICE PREMIUMS IN SINGAPORE
Authors: KO SZU YU
Keywords: Real Estate
Mobility
Housing
Upgrader
Neighbourhood
Location
Household Preference
Premium
Intra-neighbourhood Mobility
RE
2013/2014 RE
Ooi Thian Leong Joseph
Issue Date: 12-May-2014
Citation: KO SZU YU (2014-05-12). EFFECTS OF NEIGHBOURHOOD CHARACTERISTICS ON PUBLIC-PRIVATE HOUSING MOBILITY AND PRICE PREMIUMS IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: Empirical evidences have found distinct sectoral bias in relocation pattern in Singapore, that households tend to move within the same region where their previous dwelling is located. This dissertation is aimed at examining the neighbourhood effects on upward mobility patterns between public and private housing sectors in Singapore. The examination was based on a logit model on 13,388 transactions of 75 non-landed private residential developments, controlling for unit-specific attributes, location factors and time-varying conditions. The analysis revealed that the concentration of potential upgraders, as measured by the quantity and price of public housing in the neighbourhood, has significant and negative effects on the likelihood of upgrading. The inverse relationship rejects the null hypothesis of intra-neighbouhood mobility in Singapore. The paper further examines the impacts of neighbourhood public housing characteristics on the premiums paid for non-landed private residential units, where the price premiums were quantified from a hedonic pricing model. It found that there are premiums in non-landed private housings attached to locations in high-density and highly-demanded HDB Towns. Interestingly, the relationship between the premium and the purchaser profile clearly establishes that HDB upgraders tend to underpay for their private non-landed property purchases, despite mostly being first-timers in the private property market. This throws light on the non-existence of information symmetry in the upgrading process, and suggests the level of transparency in Singapore’s private property market.
URI: https://scholarbank.nus.edu.sg/handle/10635/224101
Appears in Collections:Bachelor's Theses

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