A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values

In recent years, Singapore has announced multiple large-scale development plans, such as the Punggol Digital District (PDD), Woodlands Regional Centre, and the Jurong Lake District. These demarcated districts aim to create new job opportunities and residential buildings while enabling individuals to...

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Main Authors: Fan, Guan Fung, Lim, Jing Hao, Tan, Sheena
Other Authors: Sng Hui Ying
Format: Final Year Project
Language:English
Published: Nanyang Technological University 2023
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Online Access:https://hdl.handle.net/10356/166296
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-1662962023-04-30T15:31:40Z A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values Fan, Guan Fung Lim, Jing Hao Tan, Sheena Sng Hui Ying School of Social Sciences AHYSng@ntu.edu.sg Social sciences::Economic theory In recent years, Singapore has announced multiple large-scale development plans, such as the Punggol Digital District (PDD), Woodlands Regional Centre, and the Jurong Lake District. These demarcated districts aim to create new job opportunities and residential buildings while enabling individuals to work close to their homes, reflecting Singapore’s development from a monocentric city into a polycentric city. While many studies in Singapore model housing prices, there remains a research gap on how decentralisation affects the prices of the surrounding housing properties. In particular, this paper seeks to address how the announcement of PDD would affect both the resale prices of the HDB and private non-landed apartments in the vicinity. Subsequently, we analyse the possible difference between the impact of PDD on private and public housing so that the government can adopt differentiated cooling measures to ensure that the housing market prices remain stable and sustainable. The result from our spatial difference-in-difference model suggests that the announcement of the PDD has a significant and positive impact on the surrounding housing prices. Furthermore, the evidence suggests that private properties appreciate more than HDB flats. This aligns with the literature, where the attractiveness and convenience of living near such hubs (PDD) can contribute to housing value appreciation and that policymakers should adopt differentiated cooling measures to ensure the stability of the housing market. Bachelor of Arts in Economics 2023-04-25T01:59:52Z 2023-04-25T01:59:52Z 2023 Final Year Project (FYP) Fan, G. F., Lim, J. H. & Tan, S. (2023). A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/166296 https://hdl.handle.net/10356/166296 en HE_1AY2223_19 application/pdf Nanyang Technological University
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic Social sciences::Economic theory
spellingShingle Social sciences::Economic theory
Fan, Guan Fung
Lim, Jing Hao
Tan, Sheena
A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values
description In recent years, Singapore has announced multiple large-scale development plans, such as the Punggol Digital District (PDD), Woodlands Regional Centre, and the Jurong Lake District. These demarcated districts aim to create new job opportunities and residential buildings while enabling individuals to work close to their homes, reflecting Singapore’s development from a monocentric city into a polycentric city. While many studies in Singapore model housing prices, there remains a research gap on how decentralisation affects the prices of the surrounding housing properties. In particular, this paper seeks to address how the announcement of PDD would affect both the resale prices of the HDB and private non-landed apartments in the vicinity. Subsequently, we analyse the possible difference between the impact of PDD on private and public housing so that the government can adopt differentiated cooling measures to ensure that the housing market prices remain stable and sustainable. The result from our spatial difference-in-difference model suggests that the announcement of the PDD has a significant and positive impact on the surrounding housing prices. Furthermore, the evidence suggests that private properties appreciate more than HDB flats. This aligns with the literature, where the attractiveness and convenience of living near such hubs (PDD) can contribute to housing value appreciation and that policymakers should adopt differentiated cooling measures to ensure the stability of the housing market.
author2 Sng Hui Ying
author_facet Sng Hui Ying
Fan, Guan Fung
Lim, Jing Hao
Tan, Sheena
format Final Year Project
author Fan, Guan Fung
Lim, Jing Hao
Tan, Sheena
author_sort Fan, Guan Fung
title A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values
title_short A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values
title_full A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values
title_fullStr A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values
title_full_unstemmed A spatial difference-in-difference approach to study the impact of Punggol Digital District hub on property values
title_sort spatial difference-in-difference approach to study the impact of punggol digital district hub on property values
publisher Nanyang Technological University
publishDate 2023
url https://hdl.handle.net/10356/166296
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