ISSS608 2016-17 T1 Assign2 Linda Teo Kwee Ang

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Abstract


The cooling measures implemented by the Singapore government is supposed to ensure a stable and sustainable property market. However the prices of the property are still subject to volatile situations due to market forces. On and off there will be news on certain HDB units sold at record prices, and it may be hard to fathom the underlying reasons for such prices.


Problem and Motivation


“The public housing resale market has continued on its long stabilisation path”, according to Singapore Real Estate Exchange (SRX) in a Straits Times article dated 5 Aug 2016 [1]]. The cooling measures introduced by the Housing Development Board (HDB) over the past seven years (since 2009) seem to be taking effect, with a general downward trend in the number of resale flats transacted over time. However, quite often we do hear of news on certain HDB units sold at record prices, hence one may still wonder whether the property market is stable or not.

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