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Property Values as a Function of Law and Policy

Author

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  • Edward S. W. Ti

    (Singapore Management University)

Abstract

Real estate values can be viewed as a function of law and policy. Using case law references, Hansard records, statutory instruments, and secondary literature, this paper articulates how the legal system impacts property values, in both expected and unexpected ways. While valuation is often viewed through the prism of real estate economics and finance, this paper highlights the reality that a more extended interpretation of understanding property valuation can be obtained by recognising that legal rules often impact asset values, sometimes in a surprising fashion. Recognising the links among law, policy, and property values is relevant to practitioners and policymakers alike.

Suggested Citation

  • Edward S. W. Ti, 2023. "Property Values as a Function of Law and Policy," International Real Estate Review, Global Social Science Institute, vol. 26(1), pages 127-142.
    • Handle: RePEc:ire:issued:v:26:n:01:2023:p:127-142
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    References listed on IDEAS

    as
    1. Seow-Eng Ong & Tien-Foo Sing, 2002. "Price Discovery between Private and Public Housing Markets," Urban Studies, Urban Studies Journal Limited, vol. 39(1), pages 57-67, January.
    2. Devaney, Steven & Livingstone, Nicola & McAllister, Pat & Nanda, Anupam, 2019. "Capitalization rates and transaction activity in international office markets: A global perspective," Global Finance Journal, Elsevier, vol. 42(C).
    3. Sau Kim Lum & Xuefeng Zhou, 2019. "Urban Housing Affordability: Assessing the Effectiveness of Policy Interventions in the Singapore Public Housing Sector," International Real Estate Review, Global Social Science Institute, vol. 22(4), pages 597-625.
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    Keywords

    Law; policy; real estate values;
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