Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/72730
Title: Time value of housing: the effect of lease decay on HDB resale prices
Authors: CHONG, BENEDICT NICHOLAS
TAN, JADE YIN
Keywords: DRNTU::Social sciences
Issue Date: 2017
Abstract: The aim of this paper is to investigate the effects of remaining lease on the resale housing market. In this paper, we test whether there exists a relationship between remaining lease and public housing price (HDB flats) and to what extent the location of these HDB flats will affect the resale price as compared to our baseline. This paper focuses on examining the resale public housing price in Singapore using the hedonic pricing model, while controlling for various lease conditions such as number of rooms and floor area of the HDB flats. Our main finding in this paper is that resale prices do reflect a decreasing trend as the length of remaining lease decreases. In particular, a decrease in remaining lease by a single year will decrease the monetary value of the HDB flats by SGD 3,917 on average. We have also notice that location of the HDB flats do influence the resale housing price where flats nearer to Town add positive values while flats further away from Town impose a negative value relative to our baseline location.
URI: http://hdl.handle.net/10356/72730
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:HSS Student Reports (FYP/IA/PA/PI)

Files in This Item:
File Description SizeFormat 
Time Value of Housing The Effect of Lease Decay on HDB Resale Prices.pdf
  Restricted Access
732.97 kBAdobe PDFView/Open

Page view(s) 20

484
Updated on May 13, 2021

Download(s) 50

85
Updated on May 13, 2021

Google ScholarTM

Check

Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.