Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/234449
Title: HOUSEHOLDS' PERCEPTIONS AND EXPECTATIONS ON PRIVATE HOUSING PRICES IN SINGAPORE
Authors: LIM SHUMIN
Issue Date: 2006
Citation: LIM SHUMIN (2006). HOUSEHOLDS' PERCEPTIONS AND EXPECTATIONS ON PRIVATE HOUSING PRICES IN SINGAPORE. ScholarBank@NUS Repository.
Abstract: The ultimate dream of most Singaporeans is to possess a private residential property. To many, the ownership of a private property represents prestige, reputation and a certain level on the social ladder. Many also see private residential property as a good source of investment, being able to reap high yields in the long run. A private home purchase involves significant capital outlay and so, an understanding of movements in private home prices will be of interest to potential homebuyers, real estate developers, marketing agents and relevant authorities. This paper researched the determinants of private housing prices from another perspective, deviating from the traditional economic approach. The psychological aspect of potential homebuyers was examined to provide a thorough explanation on how people decide on a home purchase. In particular, their attitudes, perceptions and mindsets regarding private housing prices were analyzed. The results of this dissertation tallied with previous research on behavioral finance. Fundamental factors such as income level, interest rate and employment growth rate could not exclusively account for housing price changes. Non-fundamental factors such as expectation of future price appreciation could affect households' home purchase decision, and in turn affect housing prices. This study thus provides a better rationalization that the psychological aspects of potential buyers are significant determinants of housing prices. This result would be useful to those who seek to understand better private housing price trends in Singapore.
URI: https://scholarbank.nus.edu.sg/handle/10635/234449
Appears in Collections:Bachelor's Theses

Show full item record
Files in This Item:
File Description SizeFormatAccess SettingsVersion 
HousLs.pdf26.97 MBAdobe PDF

RESTRICTED

NoneLog In

Page view(s)

6
checked on Nov 17, 2022

Download(s)

1
checked on Nov 17, 2022

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.