Publication Type
Journal Article
Version
publishedVersion
Publication Date
10-1989
Abstract
In Singapore, extensive government intervention in the housing market has resulted in much deviation from assumptions made in the simple neoclassical urban models. The monocentric model of urban structure is extended to incorporate a subsidized public housing market in which the government-determined price gradient is flatter than the private housing price gradients. The propositionthat the utility of public housing households varies inversely with residential location distance from the CBD is empirically tested by estimating net returns to public housing using resale market data. It was found that net returns decreased with distance from the CBD.
Keywords
HDB, Housing Policy, Housing Price Gradient, Singapore, real estate, private property, location
Discipline
Asian Studies | Economics | Public Economics
Research Areas
Applied Microeconomics
Publication
Singapore Economic Review
Volume
14
First Page
16
Last Page
32
ISSN
0217-5908
Publisher
World Scientific
Citation
PHANG, Sock Yong.
Welfare Implications of HDB Policy on the Public Housing Price Gradient. (1989). Singapore Economic Review. 14, 16-32.
Available at: https://ink.library.smu.edu.sg/soe_research/220
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