Land Markets and Policies
IREUS studies land market dynamics and examines channels through which the land supply policies could affect private housing market. Some research topics are related to the efficiency and structure of land market and its impact on private property markets in Singapore. First, the land supply (including en-bloc redevelopment) and development timing strategies that cause price volatility in private housing markets. Second, the questions relating to the Government Land Sales (GLS) programmes, and developers’ strategies in GLS will be examined. Third, the question of land leverage (land price to the property price) will be examined.
Current Research Projects
Academic Research Fund Tier 2 Project: MOE2018-T2-1-136 Land Policies and Market Efficiency (PI: SING Tien Foo)
Media Coverage
“What happens when the en bloc musical chairs stop?” Channel News Asia (CNA) Commentary, 21 January 2018 (SING Tien Foo and CHIA Liu Ee)
“Behind dashed hopes of Mandarin Gardens en bloc sale, unbridled speculation and wishful thinking”, Channel News Asia (CNA) Commentary, 7 April 2019 (CHIA Liu Ee and SING Tien Foo)
Podcast by Channel News Asia - “The Pulse” on “The outlook for the Singapore property market” (SING Tien Foo) on 12 April 2019
Selected Publications
Agarwal S, Li J, Teo E, and Cheong A. 2017. Strategic Sequential Bidding for Government Land Auction Sales - Evidence from Singapore. Journal of Real Estate Finance and Economics: 1-31.
Dong Z, and Sing TF. 2016. How Do Land Auction Formats Influence the Market Structure and Aggregate Surplus of Real Estate Development? Real Estate Economics 44 (3): 691-725.
Li Q. 2013. Language and Urban Labor Market Segmentation: Theory and Evidence. Journal of Urban Economics: 27-46.
Munneke HJ, Ooi JT, and Sirmans C. 2019. The Option Value of Vacant Land. Journal of Real Estate Finance and Economics.
Qin Y, Zhu H, and Zhu R. 2016. Changes in the Distribution of Land Prices in Urban China During 2007-2012. Regional Science and Urban Economics 57: 77-90.
Working Papers
Chia LE, and Sing TF. 2019. Speculators and Certainty Effects: Evidence from the Redevelopment Market.
Fan G, Pu M, Sing TF, and Zhang X. 2019. Risk-Aversion and Urban Land Development Options.
Fan Y, Yang Z, and Leung CKY. 2019. Are Corporate Decisions Externally or Internally Driven? The Case of Real Estate Developers.
Li Q, and Wang L. 2019. Is the Chinese Skyscraper Boom Excessive?.
Lin Y, Qin Y, Yang YZ, and Zhu H. 2019. Can Price Regulation Improve Land Use Efficiency? Evidence from Industrial Land Market in China.
Research Team
CHIA, Liu Ee
FAN, Ying
OOI, Joseph TL
QIN, Yu
SING, Tien Foo
ZHANG, Xiaoyu