SINGAPORE CONDOMINIUM PRICING IN MARKET SEGMENTS

Abstract

This study seeks to examine the spread of selling prices across market segments and investigate if there are significant differences in implicit prices across three proposed condominium submarkets — luxury, city living and mid-to-mass market segments. The paper applies the hedonic approach and the attributes being observed are unit size, storey height, number of bedrooms and toilets, orientation, pool, sea, city, park views, ‘‘unlucky and lucky" numbers of 4 and 8 ? corner-unit privacy, and private enclosed spaces. The empirical results, based on a sample size of 2379 units, showed that different price behaviours exist across the market segments in terms of mean prices, price spread and impact of internal spatial attributes.