Abstract
The real estate market can be characterised into the space market for usage, the asset market for investment, and the development industry providing the real estate stock. Urban development and growth is spatially and intrinsically linked to the development industry. However, little theoretical and empirical work exists to link changes in the space and asset markets to urban development. In this respect, an interesting phenomenon in recent years in Asia is the increasing popularity in the securitisation of real estate. The securitisation of real estate in Singapore, in particular, has been introduced as a means to promote and further develop Singapore as a global financial centre. This paper appeals to the DiPasquale & Wheaton theoretical construct to examine the impact of Singapore’s space and asset markets on urban development.
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