Art Places and Their Impact on Property Prices of Condominiums in Singapore

Xinyu Zeng; Bige Tunçer

doi:10.1007/978-981-19-1280-1_7

Art Places and Their Impact on Property Prices of Condominiums in Singapore

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

Abstract

During its formative years, the designation of spaces for arts was often deemed to be a luxury in Singapore, which is a land-scarce country. As her economy progresses to one of the world’s highest GDP per capita, art development is now deemed as a part of the greater service sector. The idea of how arts have any actual positive impact on the economy is often based on a theoretical discussion but with little data-driven evidence. As art development in Singapore is in a rather early stage, it relies strongly on government policies and support. This paper explores if arts can have a positive impact on Singapore’s condominium projects to quantify the economic benefits rather than to tackle the macro-economic benefits, which might be compounded with other factors. The quantitative methods used in this paper include comparative methods using GIS, single factor regression, and two-factor regression.

Original language	English
Title of host publication	Computer-Aided Architectural Design. Design Imperatives
Subtitle of host publication	The Future is Now - 19th International Conference, CAAD Futures 2021, Selected Papers
Editors	David Gerber, Evangelos Pantazis, Biayna Bogosian, Alicia Nahmad, Constantinos Miltiadis
Publisher	Springer
Pages	107-124
Number of pages	18
ISBN (Print)	9789811912795
DOIs	https://doi.org/10.1007/978-981-19-1280-1_7
Publication status	Published - 2022
Externally published	Yes
Event	19th International Conference on Computer-Aided Architectural Design Futures, CAAD Futures 2021 - Virtual, Online Duration: 16 Jul 2021 → 18 Jul 2021

Publication series

Name	Communications in Computer and Information Science
Volume	1465 CCIS
ISSN (Print)	1865-0929
ISSN (Electronic)	1865-0937

Conference

Conference	19th International Conference on Computer-Aided Architectural Design Futures, CAAD Futures 2021
City	Virtual, Online
Period	16/07/21 → 18/07/21

Bibliographical note

Publisher Copyright:
© 2022, Springer Nature Singapore Pte Ltd.

Keywords

Art places
Condominium property price
GIS
Quantitative methods

Access to Document

10.1007/978-981-19-1280-1_7

Cite this

Zeng, X., & Tunçer, B. (2022). Art Places and Their Impact on Property Prices of Condominiums in Singapore. In D. Gerber, E. Pantazis, B. Bogosian, A. Nahmad, & C. Miltiadis (Eds.), Computer-Aided Architectural Design. Design Imperatives: The Future is Now - 19th International Conference, CAAD Futures 2021, Selected Papers (pp. 107-124). (Communications in Computer and Information Science; Vol. 1465 CCIS). Springer. https://doi.org/10.1007/978-981-19-1280-1_7

Zeng, Xinyu ; Tunçer, Bige. / Art Places and Their Impact on Property Prices of Condominiums in Singapore. Computer-Aided Architectural Design. Design Imperatives: The Future is Now - 19th International Conference, CAAD Futures 2021, Selected Papers. editor / David Gerber ; Evangelos Pantazis ; Biayna Bogosian ; Alicia Nahmad ; Constantinos Miltiadis. Springer, 2022. pp. 107-124 (Communications in Computer and Information Science).

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title = "Art Places and Their Impact on Property Prices of Condominiums in Singapore",

abstract = "During its formative years, the designation of spaces for arts was often deemed to be a luxury in Singapore, which is a land-scarce country. As her economy progresses to one of the world{\textquoteright}s highest GDP per capita, art development is now deemed as a part of the greater service sector. The idea of how arts have any actual positive impact on the economy is often based on a theoretical discussion but with little data-driven evidence. As art development in Singapore is in a rather early stage, it relies strongly on government policies and support. This paper explores if arts can have a positive impact on Singapore{\textquoteright}s condominium projects to quantify the economic benefits rather than to tackle the macro-economic benefits, which might be compounded with other factors. The quantitative methods used in this paper include comparative methods using GIS, single factor regression, and two-factor regression.",

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Zeng, X & Tunçer, B 2022, Art Places and Their Impact on Property Prices of Condominiums in Singapore. in D Gerber, E Pantazis, B Bogosian, A Nahmad & C Miltiadis (eds), Computer-Aided Architectural Design. Design Imperatives: The Future is Now - 19th International Conference, CAAD Futures 2021, Selected Papers. Communications in Computer and Information Science, vol. 1465 CCIS, Springer, pp. 107-124, 19th International Conference on Computer-Aided Architectural Design Futures, CAAD Futures 2021, Virtual, Online, 16/07/21. https://doi.org/10.1007/978-981-19-1280-1_7

Art Places and Their Impact on Property Prices of Condominiums in Singapore. / Zeng, Xinyu; Tunçer, Bige.
Computer-Aided Architectural Design. Design Imperatives: The Future is Now - 19th International Conference, CAAD Futures 2021, Selected Papers. ed. / David Gerber; Evangelos Pantazis; Biayna Bogosian; Alicia Nahmad; Constantinos Miltiadis. Springer, 2022. p. 107-124 (Communications in Computer and Information Science; Vol. 1465 CCIS).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

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Zeng X, Tunçer B. Art Places and Their Impact on Property Prices of Condominiums in Singapore. In Gerber D, Pantazis E, Bogosian B, Nahmad A, Miltiadis C, editors, Computer-Aided Architectural Design. Design Imperatives: The Future is Now - 19th International Conference, CAAD Futures 2021, Selected Papers. Springer. 2022. p. 107-124. (Communications in Computer and Information Science). doi: 10.1007/978-981-19-1280-1_7

Art Places and Their Impact on Property Prices of Condominiums in Singapore

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