Public Housing Transactions Dashboard

In this project, we explore Housing and Development Board (HDB) Resale Transactions to develop an insightful dashboard designed to empower various stakeholders, including real estate agents, prospective buyers, and sellers. There are two main objectives:

1. Provide stakeholders with comprehensive insights and an overview of the property market.

2. Facilitate informed decision-making through data analysis.

Two datasets are integrated to facilitate the analysis of this project:

Project Process

Before developing an effective dashboard, critical business questions were gathered to understand the perspective and needs of the stakeholders. The initial step was crucial for guidance and ensuring the dashboard will be meaningful. Next, data exploration and cleaning were conducted to prepare the dataset for accurate and meaningful analysis. With a clean and reliable data, visualizations were then created to form the core of our dashboard.

Highlights

The dashboard offers three primary levels of analysis to guide stakeholders effectively:

1. All Regions in Singapore: This broad overview allows stakeholders to see trends and patterns across the entire country, providing a comprehensive understanding of the HDB Resale Market.

2. Selected Town Region: By focusing on specific towns, stakeholders can gain detailed insights into localized market conditions, which is particularly useful for real estate agents and buyers interested in particular areas.

3. Selected Flat Type across Singapore: This analysis enables stakeholders to compare different flat types and the level of the unit, aiding in making informed decision-making based on the type of property they are interested in.

Pre-requisite Business Questions

Market Trends

1. What are some trends observed in the real estate market?

2. Are there certain period where there are more or fewer transacted units?

3. Are there certain flat types that are of higher demand

Price Evaluation

1. How do home sellers determine the value of their unit?

2. How do potential owners ensure they are not overpaying?

3. What are some factors that may determined the value of the unit?

Amenities

1. How do neighborhood or regions determine unit price and desirability?

2. What are some amenities that make certain neighborhood more attractive to potential home buyers?

Business and Data Understanding

Python was used to explore and clean our dataset before exporting it into a CSV file. The dataset originally contained 13 columns and 171,883 rows, including 282 duplicate rows. Since our objective is to assess the value of each unit based on its surroundings, removing duplicates was crucial to ensure data accuracy. After eliminating the duplicate rows, the dataset now contains 171,601 rows.

Which flat types are most popular with residents?

It is evident that 4-room flat type is the most transacted amongst the rest which may suggest that 4-room flats are in high demand which is also supported by a news article published by CNA in January 2024 that more buyers are looking to grow their family and needed a bigger home that’s within their affordability.

Over the period from 2017 and 2024, transactions for 1-room flats are only located in Bukit Merah. This scarcity may stem from a limited supply of 1-room HDB flats being constructed, with many of these units serving as rental properties to accommodate to lower-income families or other purposes.

The limited availability of Executive and Multi-Generation HDB flats can be attributed to the cessation of their construction in Singapore since August 1995. This has likely contributed to the observed scarcity in transactions for these flat types.

HDB Resale Transaction Trends from 2017 to 2024

In April to May 2020, property transactions in Singapore experienced an unprecedented decline due to COVID-19 pandemic. The outbreak led to nationwide circuit breaker measure, restricting movement outside homes except essential reasons and deterring in-person property viewings. Virtual viewings remained an option but were deemed less effective, particularly for significant investments where personal connection to the property is important. Following the easing of restrictions in June 2020, property transactions saw a notable increase as live viewings became permissible again.

HDB Median Resale Price Heat Map

Legend

A heat map is used to visualize units located near MRT stations. The analysis indicates that units nearer to MRT stations, offering greater convenience for public commute, tend to command higher median resale prices. The Central area particularly stands out, commanding higher prices compared to the other parts of Singapore, due to its central location at the heart of the country.

HDB Flat Types Median PSF Price

Multi-Generation and Executive flats command the highest median resale prices due to their size and continued demand, as HDB has not built such flat types since August 1995. Additionally, it is observed that smaller flats have higher prices per square foot (PSF). This visualization will be integrated into the dashboard, enabling stakeholders to easily filter and view the PSF for various flat types across different regions.

HDB Median Price and Unit Level Heat Map

Legend

It is apparent that higher-located units command higher median resale prices, possibly due to factors not limited to increased airflow, sunlight exposure, and other associated benefits.

HDB Resale Transactions Dashboard

Dashboard Overview

Dashboard Level of Analysis - Level 3: By Flat Type

Hovering over a specific flat type triggers a level of analysis window to pop up. Upon selecting level 3, a comparison is made across similar flat types in all towns. This comparison is visually represented on a map showcasing the median prices of similar flat types across all towns. Additionally, a table displays the median price PSF and the median resale price, facilitating a quick overview across Singapore.

Dashboard Level of Analysis - Level 2: By Selected Region

Selecting for this level of analysis will display a map highlighting the locations of these towns within their respective regions. Additionally, it will provide information on the total number of flats and transactions categorized by their respective flat types within each town.

Dashboard Level of Analysis - Level 1: All Regions

At this level of analysis, an overview of HDB Resale Transactions in Singapore is presented. This includes a map showcases all transacted units, accompanied by a scatter plot illustrating the correlation between median resale price and price PSF. Furthermore, a table provides details such as total flats, median price, and median PSF categorized by region and flat type.