Hedonic Modeling of Singapore's Resale Public Housing Market
| dc.contributor.advisor | Becker, Charles Maxwell | |
| dc.contributor.advisor | Falba, Tracy | |
| dc.contributor.author | Xu, Jiakun | |
| dc.date.accessioned | 2017-05-04T22:13:45Z | |
| dc.date.available | 2017-05-04T22:13:45Z | |
| dc.date.issued | 2017-05-04 | |
| dc.department | Economics | |
| dc.description.abstract | The large-scale, high-density public housing market in Singapore invites hedonic analysis, due to its homogeneity in structure quality across all neighborhoods. This paper builds a time-dummy hedonic regression model incorporating geospatial features for a large dataset of resale transactions from 2000 to 2016. Significant anticipatory price effects are found for new subway stations, which peak at two years before station opening. A hedonic price index suggests that affordability was a problem during the sustained period of property price inflation from 2011 to 2013. District-level analysis shows evidence of increasing rent gradients, wealth disparities, and "lottery" effects in asset growth. I discuss the potential contributions of these insights to wealth and equity considerations in public policy design. | |
| dc.identifier.uri | ||
| dc.subject | hedonic models, housing, public transit, Singapore | |
| dc.title | Hedonic Modeling of Singapore's Resale Public Housing Market | |
| dc.type | Honors thesis |
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