Evaluating the effectiveness of cooling measures on property prices: An exploration of alternative econometric techniques

• Main Authors: LEE, David K. C., PHANG, Sock Yong, PHOON, Kok Fai, WEE, Karol
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2013
• Subjects: Asian Studies; Economics; Public Economics; Real Estate
• Online Access: https://ink.library.smu.edu.sg/soe_research/1736; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=2735&context=soe_research
• Institution: Singapore Management University

To study the degree of success of various government measures to maintain house price stability in Singapore by exploring and determining the effectiveness of various interventions using different econometric models. We find that the May 1996 measures which included capital gains taxation had a clear impact on prices and that many of the recent measures such as additional stamp duties and disallowing various financing arrangements appear not to have had a significant effect on housing prices.