New Supply and Price Dynamics in the Singapore Housing Market

Ooi, Joseph T. L.; Le, Thao

doi:10.1177/0042098011415718

Cited by 12 publications

(5 citation statements)

References 42 publications

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“…It is a measure of the responsiveness of housing supply to change in housing price. Housing supply elasticity plays an important role in explaining the evolution of housing price (Blackley, 1999;Glaeser, Gyourko, & Saks, 2006;Malpezzi & Maclennan, 2001;Ooi & Le, 2012;Pryce, 1999). Positive demand shocks caused by population growth, income increase or the decline in mortgage interest rate can put upward pressure on housing price.…”

Section: Housing Supply Elasticitymentioning

confidence: 99%

Government intervention in land market and its impacts on land supply and new housing supply: Evidence from major Chinese markets

Siqi

2014

Habitat International

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Section: Housing Supply Elasticitymentioning

confidence: 99%

Government intervention in land market and its impacts on land supply and new housing supply: Evidence from major Chinese markets

Siqi

2014

Habitat International

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“…Rapid inflation does cause large increases in the cost of materials and land (Noppen 2012). Ooi and Le (2012) used Vector Autoregressive (VAR) models to trace the price response of existing houses to the quantity of new units launched by homebuilders in Singapore between 1996 and 2009. They found that contrary to the "competition" hypothesis prediction of a negative reaction, they found that marginal supply Granger-cause existing house prices in a positive manner.…”

Section: Effect Of Economic Factors On Funding Of Housingmentioning

confidence: 99%

Economic and Innovative Factors Influence on Funding of the Supply-Side of Housing in Nairobi, Kenya

Kanjumba

2017

BMS

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Housing impact on an economy is undisputed. Economic factors comprising market forces, cost of inputs, the macro economy and the cost of funding are one set of factors that impacts on the funding of the supply-side of housing. Financiers' reactionary actions to encourage uptake of credit is undertaken by use of innovation and technology. This paper sets to establish the relationships between both economic and innovative factors, and funding of the supply-side of housing in Kenya and also the moderating effect of the major stakeholders. Using an explanatory form of approach in research design a survey was conducted using questionnaires to collect data from a random sample of 212 branches in Nairobi of financial institutions drawn from a population of 43 commercial banks, 9 deposit-taking MFIs and three major financiers of housing. Factor analysis, correlation analysis and ordinal logit regression were used to determine the relationships. A negative relationship between economic factors and funding of housing was found, while innovative financing and technological factors were found to have no influence. A positive moderating effect of stakeholders on the relationships between both economic factors, and innovative financing and technological factors on one side, and funding of housing was established. The implication being that economic factors play a bigger role in impacting housing and a stable economy is conducive in encouraging investments in housing, with government acting more as an enabler. Innovative financing and technology act as facilitators only.

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“…Ooi et al looked at Singapore between 1996 and 2009 and traced the price response of existing houses to the quantity of new units launched by home builders [8]. Malpezzi et al estimated the price elasticity of the housing supply from new construction separately in the United States and in the United Kingdom [9].…”

Section: Literature Reviewmentioning

confidence: 99%

Structural Changes in the Korean Housing Market before and after Macroeconomic Fluctuations

Kim

2016

Sustainability

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Abstract:The purpose of this paper is to identify structural changes in the Korean housing market for evaluating the sustainability of the Korean housing market and to derive important implications to seek housing business strategies and public policies. Two time periods were analyzed: April 2001-December 2007 and January 2008-December 2014 to identify the impact after the global financial crisis of 2008. The market was divided into transaction, chonsei, and monthly rent. The correlations were analyzed using a vector error correction model (VECM). A key result was that during the economic depression, demand for chonsei did not flow to the transaction market; this phenomenon affected the overall recovery of the housing market. The supply of chonsei today is rapidly decreasing with the depression in the transaction. Increases in chonsei prices are expected to continue along with the possibility that demand for chonsei will flow into the transaction or monthly rent market. Based on recent trends, the chonsei market, once main stream, will gradually weaken, and the Korean housing market will reorganize into transactions and monthly rent. This structural change may turn the Korean housing market into a target for long-term investments.

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New Supply and Price Dynamics in the Singapore Housing Market

Cited by 12 publications

References 42 publications

Government intervention in land market and its impacts on land supply and new housing supply: Evidence from major Chinese markets

Government intervention in land market and its impacts on land supply and new housing supply: Evidence from major Chinese markets

Economic and Innovative Factors Influence on Funding of the Supply-Side of Housing in Nairobi, Kenya

Structural Changes in the Korean Housing Market before and after Macroeconomic Fluctuations

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