The effect of localized density on housing prices in Singapore
Eric Fesselmeyer and
Kiat Ying Sky Seah
Regional Science and Urban Economics, 2018, vol. 68, issue C, 304-315
This paper measures how localized residential density impacts housing prices in Singapore. Using exogenous variation in residential density, we find that an increase in density causes non-trivial decreases in property values: a 10% increase in density decreases price per square foot by between 1.3% and 2%. To the best of our knowledge, ours is the first paper to measure this effect.
Keywords: Density; Willingness-to-pay; Land-use policy; Compact city (search for similar items in EconPapers)
JEL-codes: R20 R21 R38 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:regeco:v:68:y:2018:i:c:p:304-315
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