Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/234590
Title: SUBURBAN SHOPPING CENTRES AND HOUSING VALUES
Authors: CAI SHENG WEI
Keywords: Suburban shopping centre
Size
Proximity
Selling price of flats
Issue Date: 2006
Citation: CAI SHENG WEI (2006). SUBURBAN SHOPPING CENTRES AND HOUSING VALUES. ScholarBank@NUS Repository.
Abstract: Over the years, more retail activities have been decentralized to suburban areas resulting in the emerging trend of suburban shopping centres. The trend was mainly fuelled by the government's policy of decentralization. This study looks at the impact of suburban shopping centres on the prices of surrounding HDB flats. More specifically, the size and proximity effect is investigated to determine the magnitude of the impact. Three suburban shopping centres of distinct sizes are selected and tested for their effect on the flats located within 1 km radius. The primary methodology adopted in this study is the hedonic pricing model. The size and distance to suburban shopping centres variables are incorporated along with other key variables to find out the impact on the surrounding HDB flats. Various hedonic functional models are then used to test the size and distance variables. Results from the various models showed that distance from the suburban shopping centre has positive impact on the selling price of the flats. In other words, flats that were located further away from the shopping centre have lower selling price. The size of a suburban shopping centre is found to have a positive contributory effect on selling prices as well. In addition, the results also indicated that a higher premium is generated for the HDB flats at a given distance from a larger shopping centre as compared to the flats that are located at similar distance from a smaller shopping centre. The findings in this study are in line with similar studies conducted previously, and have showed significant implications to homebuyers and real estate practitioners.
URI: https://scholarbank.nus.edu.sg/handle/10635/234590
Appears in Collections:Bachelor's Theses

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