Announcement: Starting from January 2023 (for December 2022 reports onwards), 99-SRX will be changing the schedule for the following reports:
As government agencies such as HDB and URA have improved in its transparency and timelines in making property transactions public, 99-SRX will also follow their lead in using only publicly-available transactions for our reports. This also ensures transparency and reproducibility by parties seeking to clarify 99-SRX's indexes.
Hence, there will also be differences in all reports index values due to a shift to official data sources:
i. Agency transactions will no longer be used in Price and Index calculations starting from January 2023.
i. Non-caveated transactions will no longer be used in Volume, Price and Index calculations starting from December 2022's NLP Resale report. Only caveated transactions will be used.
i. Agency transactions will no longer be used in Volume, Price and Index calculations starting from December 2022's NLP and HDB Rental report.
ii. Base index shift from January 2009 to January 2015.
These changes do not affect the broad price trends observed in earlier reports. If you wish to retrieve the previous indexes, send an email to [email protected]
CCR = Core Central Region
RCR = Rest of Central Region
OCR = Outside Central Region
A. Condo Rental Market
Based on the new rental data source,
April 2023 rents increase by 1.0% from March 2023. RCR and OCR rents increase by 1.7% and 1.6% respectively while CCR records rent decrease of 0.2%.
Volumes increase by 13.8% month-on-month. An estimated 5,598 units are rented in April 2023 as compared to 4,920 units rented in March 2023.
B. HDB Rental Market
Based on the new rental data source,
April 2023 HDB rents increase by 0.8% from March 2023. Mature and Non-Mature Estates rents increase by 0.1% and 1.2% respectively. Meanwhile, 3 Room, 4 Room, 5 Room and Executive rents increase by 0.4%, 0.9%, 1.0% and 0.1% respectively.
Volumes increase by 5.8% month-on-month. An estimated 3,183 HDB flats are rented in April 2023 compared to 3,009 units in March 2023.
CCR and RCR prices increase by 2.3% and 1.7% respectively while OCR prices decrease by 0.3% in April 2023.
According to the SRX Price Index for Condo Resale:
An estimated 919 units are resold in April 2023, a 17.9% decrease from the 1,119 units resold in March 2023.
The highest transacted price for a resale unit in April is achieved at $18,000,000 at Sculptura Ardmore.
The overall median capital gain for resale condos is $314,000 in April 2023, an increase of $8,000 from March 2023.
The overall median unlevered return for resale condos is 27.0% in April 2023.
HDB resale prices increase by 1.1% in April 2023 compared to March 2023.Mature Estates and Non-Mature Estates prices increase by 1.0% and 0.8% respectively, as compared to March 2023. In terms of room types, 3 Room prices increase by 0.7%, 4 Room prices increase by 0.3%, 5 Room prices rise the most at 1.9% while Executive price increase by 1.0%.
According to the SRX Property Price Index for HDB Resale:
2,188 HDB resale flats are transacted in April 2023,representing a 4.3% decrease from March 2023.
The highest transacted price for a resale flat in the month is achieved at $1,400,000by a 5-Room unit and a 4-Room Unit at The Pinnacle @ Duxton.
In April 2023, there are 37 HDB resale flats transacted for at least $1,000,000,representing a decrease from March 2023 which recorded 39 such units.
We have changed our HDB Resale data source to be using only official transactions from HDB. Previously, agency transactions and official transactions were used to supplement the data used to compute the index. The indexes have been retrospectively re-computed and changed to reflect the new data source.Please email [email protected] to if you wish to get the historical HDB resale indexes prior to this change.
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:
For more information, please refer to the SPI White Paper.
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