The aging population is a common phenomenon
happening around the world.
-Aging population around the world & within
1.1 Research Problem
of aging population in Singapore NIMBY?
1.2 Research Question & Objectives
As the Singapore government work towards
catering for the larger population of elderly, measures are required to be put
in place, and proper planning of location for eldercare amenities are important
in order to maximize the effects of amenities and disamenities.
This research will seek to understand to
externalities brought about by nursing homes and look to understand three
extent of price discount nursing homes bring about to residential prices
will sizes of the nursing home affect the extent of price discount
will the proportion of elderly within a town affect the extent of price
1.3 Research Objectives
1.4 Research Significance
In the field of property price dynamics, a large
amount of existing study has been done in terms of structural and locational
characteristics. Structural impacts consist of factors such as size, age, and floor
area, as well as distance to different types of amenities and disamenities (CITEE!!; Dinie)
Though multiple studies have been done on the
impact of distance to healthcare amenities, impact of nursing homes as a
locational characteristic on residential prices have not be extensively
examined. As the Singapore government aims to roll out more eldercare
facilities in the upcoming years, with increasing the number of nursing bed
facilities to 70,000, there is a pressing need to better understand the impact
of the surrounding to best plan for the exponential increase in such
facilities. (CITE!!; Online)
Moreover, focusing on ‘NIMBY-ism’ in the recent
years (CITE!!; Online),
urban planners can further utilize the findings in formulating policies and
town planning to better serve the growing aging population in Singapore.
1.5 Scope of Research
Private resale residential property prices from
January 1995 to December 2017 were obtained from Urban Redevelopment Authority’s
Real Estate Information System (REALIS). Using this set of data and the research
methodology identified, this paper will emphasize on the relationship between
nursing homes and private residential property prices.
1.1 Organisation of Research
The structure of the research are as follows:
Chapter 2 will cover the literature study on the
different price determinants of real estate in terms of structural and
locational characteristics. This chapter also consist of relevant literature
pointers with regards to the effect on eldercare facilities and residential property
Chapter 3 sets out the data utilized and highlights the research
methodology utilized; using difference-in-differences (DID) and
Chapter 4 analyses and discusses the results obtained from
the research models.
Chapter 5 concludes the paper by summarizing the key
findings, implications, limitations and recommendations of the research.