Extended Essay on Economics

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Ho Wei
ACS (International)

Extended Essay

Subject: Economics

Word Count: 3988

Investigation Question

To what extent do the Singapore Government’s policies on housing and immigration, help to increase the demand of the private property sector in the housing market.

Abstract

The research question of this Economics Extended Essay is, “To what extent does the Singapore Government’s policies on housing and immigration, help to increase the demand of the private property sector in the housing market.” For this investigation I used a variety of gathered raw data and policies from the Singapore government websites, on top of that I kept a collection of newspaper progressively monitoring the local property market. The local property market comprises of 2 sectors, the private and the public sectors. In order to understand how the government policies affect the private property market, we have to look at these policies and its implications designated to curb certain issues. These external effects, mainly the immigration policies are externalities for the local property market.

Another important aspect I looked into is the short span of Singapore’s housing market history of about 5 decades. Finally I briefly looked at various implications and the sustainability of such policies. After a thorough investigation, the conclusion reached is, the government practices immigration policies through its constant change to its public housing policies and the control of land supply and its land prices to the private market. The up drive in demand for private property is more heavily influenced by immigration policies rather than the housing policies because the housing policies focuses on the short run, which is the increased in affordability, where else immigration policies focuses on the long run to increase the resident population from the current 4 million to 6.5 million .

Word Count : 267

Table Of Contents

|Headings |Page | |Introduction |4 | |History of the housing market |5 | |The Private Property Market & The Resale Market |7 | |The Housing Policies |9 | |Immigration Factor |15 | |Immigration Policy |16 | |Property Survey |20 | |Analysis and Conclusion |24 | |Suggested Future topics |27 | |Biblography |27 |

Introduction

Singapore has a very small land space of approximately 710.2km2, making her the smallest nation in south-east Asia. Over a short history of 5 decades, Singapore has transformed from an under-developed nation doing food agriculture and manufacturing; to a first world country...
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