SRX Singapore Property Price Index
Forgot your password?

Don't have an account? Create An Account

For agents interested to participating on SRX, please contact us at +65 6635 3388 or write to us at feedback@srx.com.sg

Shortlisted Properties

X
Project Name Price Size PSF Type Remove
Save to PDF

SRX Property Index (SPI) Chart

Touch graph to see detail.
Sorry. We are unable to display the indices for your selections.
Note: The latest month's value is based on flash estimate.
Source: Singapore Real Estate Exchange (SRX)

Download SRX Flash         Report

Observations

Legend:

CCR = Core Central Region

RCR = Rest of Central Region

OCR = Outside Central Region

April 2016 Rentals   (Download the full report here)

Headline: Non-Landed Private Rent prices remain flat; HDB Rents Decrease by 0.6% in April 2016.

A. Non-Landed Private Residential Rental Market

  1. Private rent prices flat According to SRX Property Price Index for Non-landed Private Residential Rentals, rents remained the same in April 2016 compared to March 2016. Breaking down by sectors, rents for Non-landed Private Residential units in CCR remained the same, rents in RCR increased by 0.1% while OCR experienced a decrease in rents by 0.1%.

    According to SRX Property Price Index for Non-landed Private Rentals:

    • Year-on-year, rents in April 2016 were down by 5.4% from April 2015. In individual sectors, CCR, RCR and OCR posted 1.9%, 8.2% and 6.8% year-on-year decrease in price, respectively;
    • Rent in April 2016 was 16.1% down compared to its peak in January 2013.
  2. Rental volume decreases by 10.3% According to SRX Property, an estimated 3.953 Non-landed Private Residential units were rented in April 2016. This represented a 10.3% decrease from 4,405 units rented in March 2016.

    • Year-on-year, rental volume in April 2016 was 10.5% higher than 3,578 units rented in April 2015.

B. HDB Rental Market

  1. HDB rents decrease by 0.6% in April. According to SRX Property Price Index for HDB Rentals, rents decreased by 0.6% from March 2016 to April 2016. HDB 3 and 5 Rooms flats posted 0.8% and 1.1% decrease in rents respectively. HDB 4 Rooms rents remained the same while HDB Executive posted a 0.4% increase in rents.

    According to SRX Property Price Index for HDB Rentals:

    • Year-on-year, rents in April 2016 were down by 4.3% from April 2015;
    • Rents in April 2016 were down 9.9% compared to its peak in August 2013.

    According to SRX Property Price Sub-Indices for HDB Rentals in Mature and Non-mature Estates:

    • Rents in Mature and Non-Mature Estates experienced a 0.3% and 0.9% decrease respectively in April 2016;
    • Year-on-year, rents of Mature Estates in April 2016 slipped 3.9% from April 2015;
    • Year-on-year, rents of Non-mature Estates in April 2016 dropped 4.8% from April 2015.
  2. HDB rental volume decreases by 2.2% in April According to SRX Property, an estimated 2,048 HDB flats were rented in April 2016, a 2.2% decrease from 2,093 units rented in March 2016.

    • Year-on-year, rental volume in April 2016 increased by 5.8% from April 2015.

April 2016 Non-Landed Private Residential Resales       (Download the full report here)

Headline: Private Resale Non-Landed Prices Increase 0.5% in April; Volume Still Low but Hits Highest Mark in 3 Years at an Estimated 689 units Resold.
More  
  1. Non-landed Private Residential Resale Prices increase in April 2016 Non-landed Private Residential Resale prices increased by 0.5% in April 2016 compared to March 2016. In individual sectors, CCR and RCR recorded a price increase of 0.7% and 1.3%, respectively. On the other hand, OCR posted a 0.2% decrease in price.

    According to the SRX Non-landed Private Residential Price Index:

    • Year-on-year, prices in April 2016 dropped by 0.5% from April 2015. In individual sectors, CCR and RCR posted a year-on-year price increase of 3.2% and 0.9%, respectively, while OCR recorded a year-on-year price decrease of 2.9%;
    • April 2016 prices were down by 7.1% from the recent peak in January 2014;
    • Price change in March 2016 was revised from 0.3% increase to 0.1% increase.
  2. Resale volume increases by 17.6% in April 2016 According to Non-landed Private Residential Resale data compiled by SRX Property, an estimated 689 Non-landed Private Residential units were resold in April 2016. This is a 17.6% increase compared to 586 units resold in March 2016. This also presents a 3 year record since the last high of 726 units in May 2013.

    • Year-on-year, resale volume in April 2016 was 28.1% higher compared to 538 units resold in April 2015;
    • Resale volume was down by 66.4% compared to its peak of 2,050 units resold in April 2010.
  3. Overall median Transaction Over X-Value (TOX) increases in April 2016. The median T-O-X for Non-landed Private Residential measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

    • The median T-O-X in April 2016 is NEGATIVE $9,000. This is a $1,000 increase compared to NEGATIVE $10,000 in March 2016.
  4. District 20 posts highest median T-O-X For districts with more than 10 resale transactions in April 2016, District 20 (Bishan, Ang Mo Kio) posted the highest median T-O-X at POSITIVE $24,000.

    This means that a majority of the buyers in this district purchased units above the computer-generated market value.

  5. Among relatively active districts, District 22 posts the most negative median T-O-X District 22 (Jurong) posted a T-O-X of NEGATIVE $25,000.

This means that a majority of the buyers in these districts purchased units below the computer-generated market value.

April 2016 HDB Resale (Download the full report here)

Headline: HDB Resale Price inches down by 0.1%; Volume at Record High post Cooling Measures.
More  
  1. HDB resale price inches down in April 2016 HDB resale prices decrease 0.1% in April 2016 compared to that of March 2016. The resale prices of HDB 3 Rooms and Executive Flats increased by 0.6% and 0.1% respectively. On the other hand, the resale prices of HDB 4 Room Flats remained the same while HDB 5 Rooms resale prices decreased by 0.9%. Prices have remained relative flat for the past year since Apr 2015.

    According to the SRX Property Price Index for HDB Resale:

    • Year-on-year, prices have inched down by 0.2% from April 2015;
    • Prices have declined by 11.1% since the peak in April 2013;
    • There is no revision for price changes in March 2016.

    According to the SRX Property Price Sub-Indices for HDB Resale:

    • In April 2016, HDB resale prices increased in mature estates by 1.0% while resale prices in non-mature estates decreased by 1.0%;
    • Year-on-year, prices in mature estates have increased by 0.5% from April 2015;
    • Year-on-year, prices in non-mature estates have decreased by 0.8% from April 2015;
  2. Resale volume increases According to HDB resale data compiled by SRX Property, 1,828 HDB resale flats were sold in April 2016, a 10.3% increase from 1,657 transacted units in March 2016. The volume represents a record high since the recent cooling measures of ABSD2 and TDSR were introduced in 2013 (see cooling measures for more details)

    • Year-on-year, resale volume increased by 13.5% compared to 1,610 units resold in April 2015;
    • Resale volume was down by 49.9% compared to its peak of 3,649 units in May 2010.
  3. Overall median Transaction Over X-Value (T-O-X) is ZERO in April 2016 According to SRX Property, the median T-O-X for HDB was ZERO in April 2016. The median T-O-X for HDB measures whether people are overpaying or underpaying the SRX Property X-Value estimated market value.

    • Overall Median T-O-X was ZERO in April 2016, the same compared to March 2016;
    • Median T-O-X for HDB 3 Room, 4 Room, 5 Room and Executive flats in April 2016 were NEGATIVE $2,000, POSITIVE $1,000, NEGATIVE $3,000 and POSITIVE $6,000 respectively.
  4. Queenstown posts the highest median T-O-X For HDB towns having more than 10 resale transactions with T-O-X in April 2016, Queenstown reported the highest median TOX of POSITIVE $11,000 followed by POSITIVE $8,000 in Tampines.

    This means that majority of the buyers in these towns have purchased units above the computer-generated market value.

  5. Among relatively active towns, Clementi posts the most negative median T-O-X Among HDB towns having more than 10 resale transactions with T-O-X in April 2016, the lowest median T-O-X was in Clementi at NEGATIVE $10,000, followed by Pasir Ris at NEGATIVE $8,000.

This means that majority of the buyers in these towns have purchased units below the computer generated market value.

Index Value And Change

Date Value % Change
  • Prev
  • 1
  • 2
  • 3
  • Next

About SPI

About the Singapore Real Estate Exchange Property Index (SPI)

On the Friday of the first full work week for each month, SRX releases the Singapore Real Estate Exchange Property Index (SPI) as a public service to the community.

SPI differs from other Singapore indices in four distinct ways:

  1. SPI is the first index to calculate price changes that take into account unique Singaporean factors such as the property's distance to a top primary school or an MRT station. The index, of course, controls for standard index factors like location, age of property, size, floor levels and land tenure.
  2. SPI uses a Hedonic Regression methodology modeled on proven real estate economics and consumer price indices worldwide.
  3. SPI employs unique data available only to SRX. As a result, for private sale transactions, the indices include both public caveated transactions and non-caveated transactions, resulting in a comprehensive view of the property market at any point in time.
  4. Due to its industry-wide integration with the market's major estate agencies StreetSine, on behalf of SRX, collects, processes, integrates and crunches data in real-time. Hence, StreetSine can calculate and release monthly SPI updates before other Singaporean indices.

For more information, please refer to the SPI White Paper.

Disclaimer

The information contained in this document is the proprietary and exclusive property of StreeSine Singapore Pte. Ltd. (""SSPL"") except as otherwise indicated. The information contained herein is for informational purposes only and is not intended to replace any professional advice. The views expressed are entirely those of the authors.

Whilst the information is intended to be accurate and current, SSPL is not responsible for any errors or omissions in this document. SSPL may vary, withdraw or amend any information presented herein at any time without notice.

To the fullest extent permitted by law, in no event shall StreetSine, its officers and employees, affiliates, subsidiaries, successors and assigns be liable for any damages or costs, including without limitation any indirect, consequential, special, incidental, or punitive damages arising out of, based on, or resulting from your reliance on or use of the information herein.

No part of this document may be reproduced except as authorised by written permission. The copyright and the foregoing restriction extend to reproduction in all media.

©StreetSine Singapore Pte. Ltd.. All rights reserved.

Singapore Real Estate Exchange Property Index, SPI, Singapore Real Estate Exchange and SRX are trade names of SSPL.