Details

Autor(en) / Beteiligte

• Fesselmeyer, Eric
• Liu, Haoming
• Poco, Louisa

Titel

Within‐development density and housing prices in Singapore

Ist Teil von

• Journal of regional science, 2024-03, Vol.64 (2), p.406-427

Ort / Verlag

Heightstown: Blackwell Publishers Inc

Erscheinungsjahr

2024

Quelle

PAIS Index

Beschreibungen/Notizen

• This paper measures how much more households pay for less density in their immediate surroundings. Using transaction and administrative data and exploiting the introduction of a regulation that restricted the number of housing units for certain land lots, we find that households discount density: a 10% increase in within‐development density decreases the price per square meter by 5%. Further, the mean price per square meter of the average development increased by 1%–3% after the regulation was introduced, while the amount of built‐up space remained constant. The increase in total revenue suggests developers may underestimate the externality caused by density.