IS428 2016-17 Term1 Assign1 Joachim Fu Jun Hao
Contents
Abstract
Housing in Singapore has been a common topic for everyone, locals and foreigners alike. However, with the increasing demand in properties, private residential property types have been introduced into the housing market to attract buyers who are willing to afford the different types of private properties. In this project, the focus will be to find out the supply and pricing trends and to understand if there are any possible relations between them. Thereafter, there will be policies proposed based on the perspectives of the land developers.
Problem and Motivation
Land scarcity has been one of the major issues Singapore is facing. Currently, there is a policy which aims to maximise land capacity and was implemented by the Ministry of Law: Residential Property Act. It states that Singaporeans are given priority when purchasing landed properties and foreigners are only considered depending on their social contributions to Singapore. However, I feel that this does not curb land utilisation effectively. As such, it is important to understand the land utilisation rates by analysing the trends in the supply of private property types and the willingness of the buyers to pay for the respective housing.
On the other hand, it is difficult for the land developer manage between the pricing and the supply. Entering the housing market may be effective in terms of providing extra roofs but the prices may not be lucrative.
Approaches
The main data was extracted from the REALIS database and opened with Microsoft Excel as CSV file. The data is separated into its respective metadata by delimiting comma and saved as an excel file. Thereafter, I determined what columns were useful to help me identify the trends and removed those that were not necessary. Tableau was then used to open the huge excel data. Charts such as bar graphs and line graphs are used to represent my trend analysis.
Based on the trends that are identified, there is a possibility that supply of private properties may be related to prices and vice versa. There are certain calculations derived from a couple of continuous data such as % vacancy which was derived by finding the number of vacant units.
No. of vacant units = Total no. of units - No. of sold units
% Vacant units = no. of vacant units/total no. of units
The main approach is to provide simple yet comprehensive view of the trend analysis.
Tools Utilized
- Piktochart - Infographics design
- Tableau - Visualising data
- Microsoft Excel - Delimiting into respective metadata types
Infographics
Recommended Policies
The aim of the policies is to maximise land utilisation. By doing so, high rise buildings help to increase land utilisation by having as many people living within the same land area.
- The government should provide incentives to land developers to develop non-landed properties so that there will be more choices towards high rise buildings
- A land policy could include levies or taxes for a certain quota that is yet to be fulfilled so as to reduce the number of vacant units
- Another policy would be that the government introduce higher taxes to those who owns private properties that are low rise.
