Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/63726
Title: A study on the prices of residential property in Singapore
Authors: Goh, Celina Peng Peng
Low, Kim Huat
Ng, Kay Tat
Keywords: DRNTU::Business::General::Economic and business aspects
Issue Date: 1994
Abstract: Recent escalation of residential property prices has prompted the Government to implement several measures, such as speeding up of the land sale programme, to curb the excessive surge in demand. For the last three years, the housing market in Singapore, especially the private market, has defied logic and confounded many property experts. This unusual trend has led us to get an insight into the residential property market in Singapore. This report will first look into the history of the Singapore Residential Property Market from 1970-1992. Following that, review of past works on the property market will be discussed. A further in-depth study will be provided to quantify the determinants of the demand and supply of housing. A discussion on the qualitative factors affecting the property prices is also included. We identify the various significant determinants that affect property prices and run a regression analysis based on the data collected for the period 1975 to 1992. The results from the regression analysis reveal that the performance of the stock market has strong influence on the private residential property prices. Equally significant are the lending rate and income level of individuals. The results also suggest that residential property investment is used as a hedge against inflation. It is concluded that supply of housing is insignificant in determining the property prices, thus indicating that property prices are demand rather than supply determined. The results, however, cannot be taken prima facie due to some limitations in our study. Nevertheless, this study may serve as a basis for future studies.
URI: http://hdl.handle.net/10356/63726
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

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