The aging population is a common phenomenonhappening around the world. -Aging population around the world & withinsingapore 1.1 Research Problem – Effectsof aging population in Singapore NIMBY? 1.2 Research Question & Objectives As the Singapore government work towardscatering for the larger population of elderly, measures are required to be putin place, and proper planning of location for eldercare amenities are importantin order to maximize the effects of amenities and disamenities. This research will seek to understand toexternalities brought about by nursing homes and look to understand threedifferent areas: 1.
Theextent of price discount nursing homes bring about to residential prices2. Howwill sizes of the nursing home affect the extent of price discount3. Howwill the proportion of elderly within a town affect the extent of pricediscount 1.3 Research Objectives 1.
4 Research Significance In the field of property price dynamics, a largeamount of existing study has been done in terms of structural and locationalcharacteristics. Structural impacts consist of factors such as size, age, and floorarea, as well as distance to different types of amenities and disamenities (CITEE!!; Dinie) Though multiple studies have been done on theimpact of distance to healthcare amenities, impact of nursing homes as alocational characteristic on residential prices have not be extensivelyexamined. As the Singapore government aims to roll out more eldercarefacilities in the upcoming years, with increasing the number of nursing bedfacilities to 70,000, there is a pressing need to better understand the impactof the surrounding to best plan for the exponential increase in suchfacilities. (CITE!!; Online) Moreover, focusing on ‘NIMBY-ism’ in the recentyears (CITE!!; Online),urban planners can further utilize the findings in formulating policies andtown planning to better serve the growing aging population in Singapore. 1.5 Scope of Research Private resale residential property prices fromJanuary 1995 to December 2017 were obtained from Urban Redevelopment Authority’sReal Estate Information System (REALIS). Using this set of data and the researchmethodology identified, this paper will emphasize on the relationship betweennursing 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 thedifferent price determinants of real estate in terms of structural andlocational characteristics. This chapter also consist of relevant literaturepointers with regards to the effect on eldercare facilities and residential propertyprices. Chapter 3 sets out the data utilized and highlights the researchmethodology utilized; using difference-in-differences (DID) anddifference-in-difference-in-differences (DDD). Chapter 4 analyses and discusses the results obtained fromthe research models. Chapter 5 concludes the paper by summarizing the keyfindings, implications, limitations and recommendations of the research.