Maneuvering the property hot air balloon in Singapore
This paper examines the effects of the Singapore government ongoing efforts to manage private property prices, measured by the Urban Redevelopment Authority (URA) Property Price Index of Singapore’s private property market. Since 2009, the Singapore government has unveiled numerous property market c...
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2014
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sg-ntu-dr.10356-558232024-01-16T05:21:40Z Maneuvering the property hot air balloon in Singapore Wee, Karol Heok Hiang Chew Soon Beng School of Humanities and Social Sciences DRNTU::Science::General::Economic and business aspects This paper examines the effects of the Singapore government ongoing efforts to manage private property prices, measured by the Urban Redevelopment Authority (URA) Property Price Index of Singapore’s private property market. Since 2009, the Singapore government has unveiled numerous property market cooling measures in a bid to curb skyrocketing property prices. Using quarterly data from 1991 to 2013, this paper attempts to identify key drivers of Singapore’s private property prices using two econometric models, simple OLS and autoregressive distributed lag model. This paper finds that the May 1996 government measure that included capital gains taxation had a clear impact on private property prices. On the contrary, many of the newly implemented cooling measures such as additional stamp duties and controlling buyers’ loan-to-value ratios appear not to have a significant effect on private property prices. Master of Science 2014-04-01T01:53:34Z 2014-04-01T01:53:34Z 2014 2014 Thesis-Master by Coursework http://hdl.handle.net/10356/55823 en Nanyang Technological University 30 p. application/pdf |
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DRNTU::Science::General::Economic and business aspects Wee, Karol Heok Hiang Maneuvering the property hot air balloon in Singapore |
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This paper examines the effects of the Singapore government ongoing efforts to manage private property prices, measured by the Urban Redevelopment Authority (URA) Property Price Index of Singapore’s private property market. Since 2009, the Singapore government has unveiled numerous property market cooling measures in a bid to curb skyrocketing property prices. Using quarterly data from 1991 to 2013, this paper attempts to identify key drivers of Singapore’s private property prices using two econometric models, simple OLS and autoregressive distributed lag model. This paper finds that the May 1996 government measure that included capital gains taxation had a clear impact on private property prices. On the contrary, many of the newly implemented cooling measures such as additional stamp duties and controlling buyers’ loan-to-value ratios appear not to have a significant effect on private property prices. |
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Chew Soon Beng |
author_facet |
Chew Soon Beng Wee, Karol Heok Hiang |
format |
Thesis-Master by Coursework |
author |
Wee, Karol Heok Hiang |
author_sort |
Wee, Karol Heok Hiang |
title |
Maneuvering the property hot air balloon in Singapore |
title_short |
Maneuvering the property hot air balloon in Singapore |
title_full |
Maneuvering the property hot air balloon in Singapore |
title_fullStr |
Maneuvering the property hot air balloon in Singapore |
title_full_unstemmed |
Maneuvering the property hot air balloon in Singapore |
title_sort |
maneuvering the property hot air balloon in singapore |
publishDate |
2014 |
url |
http://hdl.handle.net/10356/55823 |
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1789483213200031744 |