Difference between revisions of "IS428 2016-17 Term1 Assign1 Bong Jun Hao"
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==Approaches== | ==Approaches== | ||
+ | Prior to examining and analyzing the data, the first step would be to collate the data set, and this involves going into the Urban Redevelopment Authority(URA)'s REALIS database to extract data regarding private property in Singapore. I focused solely on the private residential properties in Singapore, choosing to draw out data using the Stock and Transactions tab as they allow me to retrieve information regarding the availability as well as the transaction prices of private properties in 2015. | ||
− | + | ==Data Cleaning== | |
Revision as of 04:51, 29 August 2016
Contents
Abstract
This project aims to look at the private property outlook in Singapore, using data of private properties in 2015 extracted from the URA's REALIS database. It focuses on 2 aspects, the supply of private properties as well as their prices.
Problem and Motivation
With the Population White Paper released in 2013 by the Singapore Government projecting Singapore's population as 6.9 million in 2020, there is an underlying meaning with this projection as it seems to indicate that there would be an influx of foreign talents to support and reach this projected population since our birth rate at 1.25 in 2015 is not enough to replenish our own population; let alone increase it.
The housing policy in Singapore is such that the foreign talents or expats are not allowed to purchase public housing, and as such their choices are limited to that of private properties.This leads to increased competition for private housing in Singapore, as increasingly affluent citizens looking to upgrade from public housing or for investment purposes would also need to vie with non-citizens looking for a roof over their heads. On the other hand, the slowing of growth of expatriates coming into Singapore has also led to fluctuations in demand and supply of private properties, perhaps slightly contributing to a fall of 3.7% in its price in 2015. These fluctuations give rise to a potential opportunity for other potential homeowners to move in, be it for investment or otherwise.
Hence the motivation behind this project lies in exploring the distribution and availability of private properties in Singapore as well as its price levels, so as to help potential buyers in making a decision when it comes to buying private properties. The main variables involved in this would be firstly the number of available private housing and secondly, the pricing of such housing. All these takes in to account the distribution of such housing by types across the different regions in the country.
Approaches
Prior to examining and analyzing the data, the first step would be to collate the data set, and this involves going into the Urban Redevelopment Authority(URA)'s REALIS database to extract data regarding private property in Singapore. I focused solely on the private residential properties in Singapore, choosing to draw out data using the Stock and Transactions tab as they allow me to retrieve information regarding the availability as well as the transaction prices of private properties in 2015.