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Public Policies and Public Resale Housing Prices in Singapore

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Abstract

In Singapore, the public resale housing market is an active second-hand housing market, whereby previously subsidised new public housing units were being transacted at market prices. In contrast to the private housing price determinants that have been identified in the international literature, the prices of public resale housing in Singapore are largely determined by public policies rather than by economic variables. This paper provides some empirical evidence on how and to what degree public housing policies affected the price dynamics of public resale housing in Singapore during the 1990s. The findings have additional implications of the wider consequences of public policies on the prices of private housing units.

Suggested Citation

  • Yong Tu & Grace K.M. Wong, 2002. "Public Policies and Public Resale Housing Prices in Singapore," International Real Estate Review, Global Social Science Institute, vol. 5(1), pages 115-132.
    • Handle: RePEc:ire:issued:v:05:n:01:2002:p:115-132
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    References listed on IDEAS

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    5. Hendershott, Patric H & Hu, Sheng Cheng, 1983. "The Allocation of Capital between Residential and Nonresidential Uses: Taxes, Inflation and Capital Market Constraints," Journal of Finance, American Finance Association, vol. 38(3), pages 795-812, June.
    6. Sock-Yong Phang & Wing-Keung Wong, 1997. "Government Policies and Private Housing Prices in Singapore," Urban Studies, Urban Studies Journal Limited, vol. 34(11), pages 1819-1829, November.
    7. Ebrill, Liam P & Possen, Uri M, 1982. "Inflation and the Taxation of Equity in Corporations and Owner-Occupied Housing," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(1), pages 33-47, February.
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    Cited by:

    1. Sock-Yong Phang, 2009. "Affordable homeownership policy : implications for housing markets," Microeconomics Working Papers 23052, East Asian Bureau of Economic Research.
    2. Che, Yeon-Koo & Gale, Ian, 2006. "Market versus Non-Market Assignment of Initial Ownership," MPRA Paper 6095, University Library of Munich, Germany, revised 30 May 2006.
    3. Wong, Maisy, 2014. "Estimating the distortionary effects of ethnic quotas in Singapore using housing transactions," Journal of Public Economics, Elsevier, vol. 115(C), pages 131-145.

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    More about this item

    Keywords

    Public; resale; housing; policies; prices; Singapore;
    All these keywords.

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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