IS428 2016-17 Term1 Assign1 Joanne Ong Shi Ying

Abstract

This project aims to discuss and analyze the supply and prices of condominium houses in Singapore.

Problem and Motivation

Singapore faces land scarcity, hence we should maximize the utilization of land and weigh the opportunity cost of all options. Since condominium is one of the more costly private property in Singapore, many developers may choose to invest in it. It is important that we analyze the market and decide if there is a need to increase the number of condominium units in Singapore.

Approaches

In order to analyze the market, we will be comparing the number of vacant condominium houses, new planned development condominium units and the average square per meter price. The number of vacant houses will represent the demand of condominiums as the more vacant houses Singapore has, the lower in demand condominium is. It will be compared against the number of new planned condominium units, which represents the supply of condominium houses. Also, average price is used to ensure a fair comparison of prices over time.

<graph which compares new planned and vacant>

This graph compares the number of vacant condominium houses and the number of new planned development condominium units in 2015. It is observed that although the number of vacant houses has increased by 33.40%, the number of planned development continues to increase. This has led to an oversupply of condominiums in Singapore.

<price graph>

The price of condominiums has dropped by 2.61% in 2015.

Tools Utilized

• Tableau
• Microsoft Excel

Results

In 2015, the number of vacant condominiums has increased, and yet the number of new planned development condominium units has increased as well. With increasing vacant houses and supply, the market will face an oversupply.

Abstract: A brief summary of the project, with a maximum of 120 words. Problem and Motivation: A description of the problem you have addressed, explaining the why is it relevant, what are the main variables involved, and what development policy questions you intend to address. Approaches: Describe the approaches used for examining and analyzing the data. Tools Utilized: Describe which technologies you leveraged during your project. Results: Describe how the results of your work may contribute to improve the use of data for development.