Since 1995, when property transaction data became readily available, the Non-Landed Resale SPI and the HDB Resale Index has lagged both median household income and GDP. In fact, GDP has gained 5.7% per annum while the private condo prices have increased only 3.28% and HDB 2.96%.
GDP for 2015 was estimated based on SRX calculations using Singstats data. The methodology is independent of but whose results are aligned to MTI’s growth forecast of 2% to 2.5%. http://www.channelnewsasia.com/news/business/singapore-narrows-2015/2041956.html
HDB Resale Index was taken from HDB’s website. 2015’s data is based on 2015Q2.
Non-Landed Resale SPI is based on SRX Price Index for August 2015.
CPI and Household Income was taken from SingStats. Their 2015 data are based on estimates.
External Sources:
http://www.channelnewsasia.com/news/business/singapore-narrows-2015/2041956.html
http://www.hdb.gov.sg/fi10/fi10321p.nsf/w/BuyResaleFlatResaleIndex?OpenDocument
http://www.tablebuilder.singstat.gov.sg/publicfacing/mainMenu.action