Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/224337
Title: INFLUENCE OF URBAN BLUE SPACES ON HOUSING PRICES
Authors: TAUNG MIN HUI
Keywords: Housing price
Private housing
Blue space
Proximity
Hedonic pricing model
Price premium
Distance
Issue Date: 20-Apr-2022
Citation: TAUNG MIN HUI (2022-04-20). INFLUENCE OF URBAN BLUE SPACES ON HOUSING PRICES. ScholarBank@NUS Repository.
Abstract: This paper posits that Urban Blue Spaces (UBS) have an amenity effect and thus examines the influence of distances between UBS and the subject property on the transaction prices of non-landed private properties in Singapore. Additionally, the paper examines how the type and size of UBS are perceived differently by homebuyers. The paper’s research topic was motivated by a general increase in attention on how UBS affects the well-being of a person particularly during the Covid-19 pandemic. The paper’s purpose is to uncover the longer term premium associated with UBS. A hedonic pricing model has been adopted to analyse a total of 14,201 transactions between January 2016 and November 2021, which were retrieved from the Real Estate Information System (REALIS). This paper found that there is a 3.06% premium for housing within 800m radius of an UBS. There is a 0.02% premium associated with every 1% decrease in distance to an UBS. Moreover, there are different price premiums of -0.09% for canals, 19.41% for coasts with reference to reservoirs. The paper has also found that there is a 0.11% premium for every 1% increase in size of an UBS. In general, these research findings fill in the literature gaps. Moreover, this help in understanding the sentiments of homebuyers towards residing in close proximity to the various UBS. Furthermore, policy makers and private developers can take these results into account in guiding their future development projects near UBS.
URI: https://scholarbank.nus.edu.sg/handle/10635/224337
Appears in Collections:Bachelor's Theses

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