Public Policies and Public Resale Housing Prices in Singapore
Author
Start Page / End Page
Volume
Issue Number
Year
Publication
Yong Tu, Grace K.M. Wong
115 / 132
5
1
2002
International Real Estate Review
Abstract
In Singapore, the public resale housing market is an active second-hand housing market, whereby previously subsidised new public housing units were being transacted at market prices. In contrast to the private housing price determinants that have been identified in the international literature, the prices of public resale housing in Singapore are largely determined by public policies rather than by economic variables. This paper provides some empirical evidence on how and to what degree public housing policies affected the price dynamics of public resale housing in Singapore during the 1990s. The findings have additional implications of the wider consequences of public policies on the prices of private housing units.