Time value of housing: the effect of lease decay on HDB resale prices
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...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2017
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/72730 |
| _version_ | 1811695550504894464 |
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| author | CHONG, BENEDICT NICHOLAS TAN, JADE YIN |
| author2 | School of Humanities and Social Sciences |
| author_facet | School of Humanities and Social Sciences CHONG, BENEDICT NICHOLAS TAN, JADE YIN |
| author_sort | CHONG, BENEDICT NICHOLAS |
| collection | NTU |
| description | 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. |
| first_indexed | 2024-10-01T07:25:15Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/72730 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T07:25:15Z |
| publishDate | 2017 |
| record_format | dspace |
| spelling | ntu-10356/727302019-12-10T13:32:31Z Time value of housing: the effect of lease decay on HDB resale prices CHONG, BENEDICT NICHOLAS TAN, JADE YIN School of Humanities and Social Sciences BAO TE DRNTU::Social sciences 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. Bachelor of Arts 2017-11-03T01:53:38Z 2017-11-03T01:53:38Z 2017 Final Year Project (FYP) http://hdl.handle.net/10356/72730 en Nanyang Technological University 34 p. application/pdf |
| spellingShingle | DRNTU::Social sciences CHONG, BENEDICT NICHOLAS TAN, JADE YIN Time value of housing: the effect of lease decay on HDB resale prices |
| title | Time value of housing: the effect of lease decay on HDB resale prices |
| title_full | Time value of housing: the effect of lease decay on HDB resale prices |
| title_fullStr | Time value of housing: the effect of lease decay on HDB resale prices |
| title_full_unstemmed | Time value of housing: the effect of lease decay on HDB resale prices |
| title_short | Time value of housing: the effect of lease decay on HDB resale prices |
| title_sort | time value of housing the effect of lease decay on hdb resale prices |
| topic | DRNTU::Social sciences |
| url | http://hdl.handle.net/10356/72730 |
| work_keys_str_mv | AT chongbenedictnicholas timevalueofhousingtheeffectofleasedecayonhdbresaleprices AT tanjadeyin timevalueofhousingtheeffectofleasedecayonhdbresaleprices |