Housing Market Dynamics In Singapore
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Housing Market Dynamics In Singapore
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Author : Sau Kim Lum
language : en
Publisher:
Release Date : 1996
Housing Market Dynamics In Singapore written by Sau Kim Lum and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Housing categories.
The Economics Of The Modernisation Of Direct Real Estate And The National Estate A Singapore Perspective
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Author : Kim Hin David HO
language : en
Publisher: Partridge Publishing Singapore
Release Date : 2022-05-11
The Economics Of The Modernisation Of Direct Real Estate And The National Estate A Singapore Perspective written by Kim Hin David HO and has been published by Partridge Publishing Singapore this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-11 with Business & Economics categories.
The Economics of The Modernisation of Direct Real Estate and The National Estate - A Singapore Perspective Chapter 1 takes a close look the vector auto regression (VAR) model, offering a dynamic system of solely direct real estate variables, for international direct real estate investors and policy makers, to enable their decision-making. Chapter 2 examines the association of residential price and aggregate consumption. A cross-spectra analysis is helps to so validate, because of its model-free characteristics Chapter 3 is concerned with the underlying housing market dynamics and housing price time-series variation, via the Singapore (SG) generalized dynamic factor model (GDFM). Chapter 4 is concerned with the in-depth market analysis and empirical analysis of the structural behavior of the important SG private housing sector. Chapter 5 acknowledges that an in-depth sector analysis and an empirical analysis are imperative to better understand the structural behavior of the SG office sector. Chapter 6 is concerned with the Main Upgrading Programme (MUP), a highly targeted subsidized Housing Development Board (HDB) policy, since the 1990s. Chapter 7 recognizes the ‘National Estate’, denoting SG’s built environment, due to physical planning, integrated urban design, and the direct influence of the SG government in providing physical infrastructure via government ministries, statutory boards and public authorities. Chapter 8 offers the book’s conclusion.
The Versatility Of The Real Estate Asset Class The Singapore Experience
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Author : Kim Hin David HO
language : en
Publisher: Partridge Publishing Singapore
Release Date : 2021-02-22
The Versatility Of The Real Estate Asset Class The Singapore Experience written by Kim Hin David HO and has been published by Partridge Publishing Singapore this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-22 with Law categories.
Chapter 1 takes a close look at two types of heterogeneous investors (momentum and disposition) to form a unique difference model, to interpret housing price dynamics. Three parameters are crucial, namely, auto-correlation, the rate of mean reversion and the contemporaneous adjustment towards long-term equilibrium price. The key implication is that the 2006 boom of the Singapore private housing market does not offer as large a magnitude as that from the price gain in the 1990’s boom-and-recovery over the long-term. Singapore’s private housing market is low risk, offering stable returns owing to virtually no divergence even in the speculative 1990s. The best way to invest is to consider the momentum strategy and avoid the herd behaviour for profit sustainability. For policy makers, the Singapore private housing market is over-damped in the long run. Chapter 2 adopts game theory to look at the private residential development oligopolistic market; the determination of residential development sale prices in an uncertain market and under incomplete information of competing developers; the dynamic interaction among developers; the time lags of the development project completion from project start; and the launching of the residential development for sale before completion and the residential development’s own capacity constraints. Developers tend to cooperate for long-term benefit, leading to a sales slowdown. Relatively high profits, earnable in the first few periods, provide an allowance to price undercut others, to sell much faster. First-mover advantage in a new market is evident. As uncertainty rises, prices decrease while price variability increases. Chapter 3 looks at the institutional nature of legal origin and the total returns (TRs), derived from investing in a country’s direct real estate, and via the adoption of a multi-factor arbitrage pricing theory (APT) model. The 1st and 4th order autoregressive model is adopted to de-smooth the TRs. De-smoothed data is used in conjunction with 2 macroeconomic variables (real GDP growth rate and interest rate) and 1 real estate risk factor (vacancy rate) to form the multi-factor structural model. A pooled panel analysis is conducted with the law-system dummies, denoting British legal origin and French legal origin, and the factor loadings (i.e. the sensitivity of the risk factor to the TRs). Macroeconomic and real estate risk factors in equilibrium affect the TRs. Vacancy rate commands high and significant risk premium owing to its direct impact on the TRs, relative to GDP growth rate and interest rate. Chapter 4 is concerned with the real estate mezzanine investment (REMI), a new financial instrument for Asia’s real estate market, and examines the REMI structure, the measurement and characteristics of its risks and returns via a forward-looking binomial asset tree (BAT) model. Risk neutral pricing probability is adopted. REMI bears more risk than typical commercial bank loans, resulting in higher interest rates than pure equity. Different risk issues focus on two major sources - the financial loan to value (LTV) ratio risk and the real estate and capital markets risk. Chapter 4 fulfils the need to close the gap concerning the REMI structure and performance in the steady state, utilizing reliable, authoritative information and data sources. Lastly, Chapter 5 offers this book’s conclusion.
Housing The Nation A Singapore Policy Story
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Author : Kim Hin / David Ho
language : en
Publisher: Partridge Publishing Singapore
Release Date : 2020-12-17
Housing The Nation A Singapore Policy Story written by Kim Hin / David Ho and has been published by Partridge Publishing Singapore this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-12-17 with Reference categories.
Chapter 1 takes a close look at a unique and state-of-the-art dynamic, structural public housing macroeconomic model (DSPHM), based on an open economy for several key macroeconomic variables, actual and expected, as well as the demand for new HDB flats sold. This Chapter readily adopts the DSPHM for simulating two scenarios, namely a “no change” first scenario and a public housing “deregulation” second scenario. Chapter 2 explores the relationship between several economic factors and the demand for public housing in Singapore and Hong Kong, deploying the innovative and versatile system dynamics model, to shed better understanding on the policy implications of assisted ownership housing. The Chapter assesses the demand for new flats of the Singapore and Hong Kong economies, under certain macroeconomic policy changes, suitable for their unique situations. Chapter 3 is concerned with the underlying structural relationships that affect Singapore’s public housing policy to potentially privatize the HDB concessionary-rate mortgages for HDB homebuyers. Such a potential privatization infuses and sustains price competitiveness among the domestic private banks in Singapore, and lead to improved efficiency among them as well as the Singapore economy at large. Chapter 4 is concerned with the binomial option-pricing model, proposed by Cox, Ross and Rubinstein (1979), which is appropriate to represent the movement of the underlying HDB resale flat prices, subject to private market forces in HDB’s large scale public housing secondary resale market. The HDB Main Upgrading Program (MUP) is a heavily subsidized and highly targeted public housing policy. Since its inception in 1992, the HDB has budgeted some S$3 billion to finance the MUP policy. Chapter 5 recognizes housing affordability to be always an issue of concern to many Singaporean homebuyers because shelter forms one of the basic life necessities. The corresponding private residential market in Singapore offers quality and premium private residential accommodation for homebuyers, who prefer the private residential market. The appropriate affordability model is a multi-factor housing affordability index (HAI) model, which considers the ability to provide down payment and to service the mortgage taken up. Lastly, Chapter 6 offers the book’s conclusion.
Turnovers And Housing Price Dynamics
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Author : Yong Tu
language : en
Publisher:
Release Date : 2008
Turnovers And Housing Price Dynamics written by Yong Tu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
Recent real estate literature has not only proposed a few theories to explain the puzzling macro feature of the positive correlation between price and transaction volume, but also attempted to identify the causal relationships between them. However, there is little empirical evidence to explicitly illustrate how housing price dynamics measured by both past price changes and price volatility at housing unit level affect housing turnovers. Using a unique housing transaction database from Singapore condominium market, this paper reveals an interesting housing turnover pattern in response to past housing price dynamics. The results illustrate that the rise and fall of a dwelling's price can significantly affect housing turnovers in the same direction. Higher volatility reduces housing turnovers. The effects are stronger in the domain of losses and are weakening as the cumulative housing equity rises, implying that a seller withholds the sale in the downswing of a real estate cycle in the hope that the market will rebound. The findings offer some additional micro empirical evidence to the interactions between housing price and transaction volume and imply upwardly biased repeat sales indexes.
Singapore S Business Park Real Estate
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Author : Kim Hin David HO
language : en
Publisher: Partridge Publishing Singapore
Release Date : 2021-09-26
Singapore S Business Park Real Estate written by Kim Hin David HO and has been published by Partridge Publishing Singapore this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-09-26 with Business & Economics categories.
Chapter 1 explores the extent to which the fundamental structure and behaviour of the large-scale high-tech strategic industrial real estate development projects, can be shaped in terms of institutional and macroeconomic conditions. Capital budgeting techniques and copula risk functions, affirm the relative influence of uncertain macroeconomic and financial variables, on the profitability of Singapore’s Biopolis at the One North development. Chapter 2 looks at the dynamics of the large-scale high-tech strategic industrial real estate market. The Chapter aims to understand the fundamental structure and behaviour of the industrial real estate in Singapore, and to broadly indicate the relative impacts of macroeconomic conditions on such industrial real estate market dynamics. In Chapter 3 and for the case of Singapore, the Chapter adopts the unrestricted vector autoregressive (VAR) approach, to understand how the space and asset markets in industrial real estate, are shaped via endogenous and exogenous factors. Chapter 4 construes the knowledge-based urban development (KBUD) strategy, to be a significant form of urban renewal of post-industrial cluster-based industrial cities. Urban planners are compelled to explore mixed-use zoning, the knowledge-based urban development-land use design model (KBUD-LUDM), its knowledge interaction design criteria (KIDC) and the land-use cost criteria (LUCC). Chapter 5 concludes this book.
Dynamics Of Housing In East Asia
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Author : Bertrand Renaud
language : en
Publisher: John Wiley & Sons
Release Date : 2016-03-03
Dynamics Of Housing In East Asia written by Bertrand Renaud and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-03 with Business & Economics categories.
This book is the first to evaluate the organisation, behaviour and performance of six major East Asian real estate markets. It offers a unique analysis of the growth and transformation of the real estate sector across East Asia. The authors examine the interactions between volatility in the sector and the overall stability of the economy, in particular during the Asia financial crisis of 1997-98, and the global financial crisis of 2008-09. draws on the best available theoretical and empirical literature applies analytic tools in the context of East Asian institutions and policies helps understand factors affecting resilience and stability in East Asian real estate markets.
Real Estate Riches
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Author : Ku Swee Yong
language : en
Publisher: Marshall Cavendish International Asia Pte Ltd
Release Date : 2011-05-15
Real Estate Riches written by Ku Swee Yong and has been published by Marshall Cavendish International Asia Pte Ltd this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-15 with Business & Economics categories.
In January 2011, the Singapore government unveiled a new set of property measures to curb rising home prices. It took most market watchers by surprise mainly because of the constant reassurance that the earlier round of measures, announced in August 2010, had been effective. Were these new measures necessary? What’s in store next? Real Estate Riches: Understanding Singapore’s Property Market in a Volatile Economy brings together a collection of articles on Singapore’s property market. Published in Today and The Business Times, the articles give a succinct overview of the property landscape, clarify government policies, dispel common misconceptions and put into perspective the factors to consider when buying property. New commentaries offer objective insights into the local property scene.
Econometric Model For The Singapore Private Housing Market
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Author : Yu Lai Boon
language : en
Publisher:
Release Date : 1997
Econometric Model For The Singapore Private Housing Market written by Yu Lai Boon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Housing Markets And Urban Transportation
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Author : Sock-Yong Phang
language : en
Publisher: McGraw-Hill
Release Date : 1992
Housing Markets And Urban Transportation written by Sock-Yong Phang and has been published by McGraw-Hill this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.