SG property analysis of non-landed private residential property

• Main Author: Wu, Jia Bin
• Other Authors: Wong Jia Yiing, Patricia
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2022
• Subjects: Engineering::Computer science and engineering::Mathematics of computing::Numerical analysis; Science::Mathematics::Applied mathematics::Numerical analysis
• Online Access: https://hdl.handle.net/10356/157243
• Institution: Nanyang Technological University

Singapore's residential property market has been rapidly expanding throughout the years. Property values have risen dramatically in the private sector, in particular. The URA Property Price Index is a measure of the overall price trends in Singapore's private housing sector. It has been improved with a new “stratified hedonic regression methodology” because of greater diversity in unit size and age. It also has a more thorough coverage of transactions thanks to the addition of IRAS stamp duty data to current data sources. This report aims to improve current URA Property Price Index again with including the distance to the nearest MRT/LRT stations and proximity to top primary schools these two additional factors that influence the resale values of non-landed private residential units in Singapore. The computed improved Property Price Index will include overall property price index of non-landed residential properties as well as property price index in each region (Core Central Region, Rest of Central Region and Outside Central Region). This will provide investors a better idea of the areas they might want to invest in. This new improved property price index also showed how other unpredictable factors such as, government cooling measure, Financial Crisis, coronavirus pandemic and so on impacted it. As a result, as an investor, investing in the Rest of Central Region would be profitable because it would generate the most profit. It would not recommend investing in the Core Central Region as the rate of growth in Core Central Region is quite stable and its high capital. Last but not least, to mitigate the risks, one would need to keep up with global news and happenings.