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

June 2020 HDB Resale   (Download the full report here)

Headline: HDB Volumes Rebounded Strongly as Circuit Breaker Measures Eased
More  
  1. HDB resale price decrease 0.2% in June 2020 compared to May 2020. Non-Mature Estates prices decrease by 1.0% while Mature Estates prices increase by 1.1%, as compared to May 2020. In terms of room types, 3 Room prices decline by 0.4% while 4 Room, 5 Room and Executive prices increase by 0.4%, 0.6% and 1.6% respectively.

    According to the SRX Property Price Index for HDB Resale:

    • Prices in June 2020 are 0.8% higher than the preceding year and 0.2% lower than May 2020.
    • June 2020 prices are 13.2% lower than the peak in April 2013.
    • Prices for most room types remain higher than a year ago: 4 Room by 1.9%, 5 Room by 1.2% and Executive by 0.4%. Prices for 3 Room flats, however, decrease by 1.1% year-on-year.
    • Year-on-year, Non-Mature Estates prices increase by 2.1% while Mature Estates prices decrease by 1.2%.
  2. 2,452 HDB resale transactions in June 2020, representing a 573.6% increase from May 2020.

    • Year-on-year, resale volume in June 2020 is 26.7% higher than the previous year.
    • Breaking down by room types, in June 2020, 40.3% of the volume comes from HDB 4 Room, 26.3% from 3 Room, 24.1% from 5 Room and 7.4% from Executive. The rest are from 2 Room.
  3. The highest transacted price for a resale flat in the month is achieved at $1,186,888 by a 4 Room unit at The Pinnacle@Duxton; In Non-Mature Estates, the highest transacted price is achieved at $865,000 by a 5 Room unit at Hougang Street 21.

    • In June 2020, there are eight HDB resale flats transacted for at least $1,000,000.
  4. Overall median Transaction Over X-Value (T-O-X) is ZERO in June 2020. This represented a decrease of $3,000 from May 2020. The median T-O-X for HDB measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.

    • HDB 3 Room registers a ZERO median T-O-X, 4 Room records a POSITIVE $1,000 while 5 Room and Executive record a NEGATIVE $1,600 and a NEGATIVE $2,000, respectively.
    • Bukit Batok posts the highest median T-O-X at POSITIVE $5,000 in June 2020, followed by Woodlands at POSITIVE $4,000.
    • Bukit Merah posts the lowest median T-O-X at NEGATIVE $8,800, followed by both Pasir Ris and Jurong West at NEGATIVE $5,000.
    • T-O-X data only include HDB towns with more than 10 resale transactions with X-Value.

May 2020 Rentals   (Download the full report here)

Headline: Condo and HDB Rental Prices Continue 3rd Monthly Decline Amidst Unsettled Covid-19 Pandemic
More  

A. Non-Landed Private Residential Rental Market

  1. May 2020 rents decrease 1.4% from April 2020. CCR, RCR and OCR rents decrease by 1.6%, 1.6% and 1.2%, respectively.

    • Year-on-year, overall rents remain unchanged from May 2019.
    • Year-on-year, rents in both CCR and RCR increase by 0.4% while OCR rents decrease by 0.7%.
    • Rents are down 17.3% from the peak in January 2013.
  2. Volumes increase 1.0% month-on-month. An estimated 2,881 units are rented in May 2020 as compared to 2,853 units in April 2020.

    • Year-on-year, rental volumes are 45.7% lower.
    • Volumes are 38.8% lower than the 5-year average volume for the month of May.
    • Breaking down by regions, in May 2020, 43.0% of the total volumes are from OCR, 31.6% from RCR and 25.4% from CCR.

B. HDB Rental Market

  1. May 2020 HDB rents decrease 1.3% from April 2020. Mature and Non-Mature Estates rents decrease by 1.6% and 1.0% respectively. According to room types, 3 Room, 4 Room and 5 Room rents fall by 1.8%, 0.6% and 1.5% respectively, while Executive Room rents remain stable.

    According to the SRX Property Price Index for HDB Rentals:

    • Year-on-year, overall rents decrease by 0.8%.
    • Year-on year, Mature Estates rents decrease by 2.1% while Non-Mature Estates rents increase by 0.5%.
    • Except for 4 Room rents which remain unchanged, all room types experience rent decreases year-on-year: 3 Room by 1.3%, 5 Room by 1.8% and Executive Room by 0.1%.
    • Rents are down 15.6% from the peak in August 2013.
  2. Volumes decrease 4.2% month-on-month. An estimated 1,147 HDB flats are rented in May 2020 versus 1,197 units in April 2020.

    • Year-on-year, rental volumes decrease by 45.1% from May 2019.
    • Volumes are also 42.0% lower than the 5-year average volume for the month of May.
    • Breaking down by room types, in May 2020, 35.3% of the total volumes are from 4 Room, 33.5% from 3 Room, 25.8% from 5 Room and 5.4% from Executive Room.

May 2020 Non-Landed Private Resale   (Download the full report here)

Headline: May 2020 Condo Resale Prices Holding Up Despite Volumes Plummeting Further in the Second Month of the Circuit Breaker
More  
  1. RCR prices increase by 1.7%, while CCR and OCR prices decrease by 0.2% and 0.5% in May 2020.

    According to the SRX Price Index for Non-Landed Private Residential Resale::

    • Month-on-month, overall prices increase by 0.1% over April 2020.
    • Year-on-year, overall prices decrease by 0.6% over May 2019.
    • In terms of regions, year-on-year, OCR prices decrease by 2.4% and, while CCR and RCR prices increase by 0.9% and 1.0%, respectively.
  2. An estimated 171 units were resold in May 2020, similar to the levels seen in Financial Crisis of 2009. May’s resale volume is a 43.0% decrease from the 300 units resold in April 2020.

    • Volumes are 80.0% lower than in May 2019, and 83.1% lower than the 5-year average volumes for the month of May.
    • Breaking down by regions, in May 2020, 47.6% of the volumes are from OCR, 26.5% from RCR and 25.9% from OCR.
  3. The highest transacted price for a resale unit in the month is achieved at $10.6 million at Nassim Park Residences.

    • In RCR, the highest transacted price is a unit at The Seafront on Meyer resold for $2.95 million.
    • In OCR, the highest transacted price is a unit at Kovan Melody resold for $1.8 million.
  4. Overall Transaction Over X-Value (T-O-X) is NEGATIVE $10,000 in May 2020. This represented a $1,000 increase as compared to April 2020. The median T-O-X for Non-Landed Private Residential measures whether people are overpaying (POSITIVE T-O-X) or underpaying (NEGATIVE T-O-X) the SRX X-Value estimated market value.

    • District 1 (Boat Quay / Raffles Place / Marina) posted the highest median T-O-X at NEGATIVE $2,100, followed by District 14 (Eunos / Geylang / Paya Lebar) at NEGATIVE $12,600.
    • District 15 (East Coast / Marine Parade) posted the lowest median T-O-X at NEGATIVE $40,000, followed by District 18 (Pasir Ris / Tampines) at NEGATIVE $13,000.
    • T-O-X data only include districts with more than 10 resale transactions with X-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.