You recently moved to a new HDB area, and your neighbors placed debris and planted flowers in the corridors, which hindered residents from moving around freely and endangered their safety. Try to write an email to the municipal council, asking the authorities to pay attention to this issue, and to make some suggestions for improvement.
Answers
Answer:
82% of all Singaporean lives in a flat built by the HDB (Housing Development Board). Buying an HDB flat is one of the most talked about subject in Singapore among young adults and it is also possibly one of the largest financial commitment for a young adult. Given a certain budget, where and what type of resale HDB flat can one buy?
Like most young adults looking to buy an HDB flat, my team and I have started on this project with a few objectives in mind:
1. To understand the key factors affecting HDB resale prices
2. To build a comprehensive pricing model to determine the intrinsic price of an HDB resale flat
HDB resale prices in Singapore are largely anchored on a sales comparison approach, i.e. how much your ex-neighbour sold his house for. In this case, the best price predictor of an HDB resale unit is therefore the previous transaction price of a similar apartment in the neighborhood with some adjustments made to account for slight differences. Sometimes this pricing could also be irrational, whereby it could be artificially elevated in speculation of a potential government buyback happening in the near future.
This provides us with a very interesting data analytics question: how much is the real intrinsic value of a house based on objective factors such as the flat condition, accessibility of the unit, as well as other estate information.
With that in mind, we proceeded to collect our extensive data to build our model.