IS428 2016-17 Term1 Assign1 Joachim Fu Jun Hao

Abstract

Every individual needs a roof over their head. However, how does the location and property type influence buyers? What are some of the factors that leads to the trends in private properties? How do land developers decide where the supply of private residential flats should be? There are many possible factors when it comes to land: population increase/increase in employment.

Problem and Motivation

The Singapore's Population White Paper has just been passed and the expected growth will be from 6.5 to 6.9 million people in Singapore. Whether locals or foreigners, there is an ever increasing demand in properties. With land scarcity, I feel that one of the policies that have been implemented: The Residential Property Act is not an efficient way of ensuring that land is maximised given the priorities towards locals who wish to acquire private properties. Nevertheless, we should focus on maximising land. Meaning to say, by having as many headcount living in a specific area would be better.

Approaches

It is important to read some land policies that are implemented as well as Singapore's demographics and the Population White Paper. (http://www.nptd.gov.sg/portals/0/news/population-white-paper.pdf) Thereafter, making use of the REALIS database, I extracted data based on each quarter, property type and also processed the data to find out the proportion of vacant units.