SRX released their property index figures for the month of October.
This post lays out all their charts with historical data starting from when their numbers are available.
Prices and rents across all property types, regions and room types in Oct 2021 have grown strongly from the previous year.
Key takeaways from SRX property index
HDB prices have risen very significantly. Visually on the chart, the increase in the index is the steepest since 2006.
Home buyers would do well to observe the government if they take steps to regulate prices in the market.
Throughout the pandemic, prices have also risen, contrary to the expectations of many market observers. Who would have thought COVID-19 would cause prices to rise instead of fall.
There are various reasons the price increases could be attributed to
- Money kept in Singapore with nowhere to go. People could not travel for holidays or spend it outside the country so they spent it on goods and services inside the country.
- People need a larger living space to work, have their own personal space hence some upgraded to a larger unit or moved out to stay on their own
- Delays in construction that resulted in some unable to receive keys to their new home in a timely manner. For those who were looking for a resale unit, anecdotally the number of sellers have decreased, resulting in higher demand than supply.
Rents have also increased throughout the pandemic, giving a boost to landlords who have tenants who need to renew their leases.
Despite the dwindling in number of expatriates after some returned home, the demand for rental units remains strong, possibly for reasons mentioned above.
Co-living operators have also benefitted through the pandemic from the demand for many who want their own personal space.
- NL / L = Nonlanded / Landed
- CCR / RCR / OCR = Core / Rest / Outside Central Region
- N / NE / W / E / C = North / Northeast / West / East / Central
- Condo / Apt = Condominium / Apartments
- Tce / Sem-D / Det = Terrace / Semi-detached / Detached
|Property type and region||YoY||MoM|
|NL CCR px||8.9%||0.3%|
|NL RCR px||7.8%||0.7%|
|NL OCR px||9.3%||0.5%|
|Condo N px||5.4%||3.0%|
|Condo NE px||18.2%||2.2%|
|Condo W px||12.4%||0.7%|
|Condo E px||7.3%||1.5%|
|Condo C px||7.4%||0.4%|
|Apt NE px||8.2%||-1.8%|
|Apt W px||6.5%||0.7%|
|Apt E px||11.0%||1.7%|
|Apt C px||8.9%||-0.4%|
|NL resale px||10.4%||0.5%|
|NL CCR resale px||8.6%||0.4%|
|NL RCR resale px||8.5%||0.6%|
|NL OCR resale px||9.5%||0.9%|
|L CCR px||12.5%||1.7%|
|L RCR px||15.1%||-1.7%|
|L OCR px||10.9%||1.1%|
|Tce N px||17.5%||1.2%|
|Tce NE px||14.1%||0.1%|
|Tce W px||11.8%||0.2%|
|Tce E px||19.0%||2.5%|
|Tce C px||24.7%||0.0%|
|Semi-D NE px||13.5%||-0.4%|
|Semi-D E px||8.8%||1.7%|
|Semi-D C px||25.2%||1.9%|
|Det C px||20.0%||-1.2%|
|L resale px||13.2%||0.5%|
|L resale CCR px||9.9%||1.1%|
|L resale RCR px||16.5%||-1.6%|
|L resale OCR px||10.9%||1.1%|
|NL CCR rent||8.4%||1.0%|
|NL RCR rent||8.8%||1.3%|
|NL OCR rent||9.9%||1.6%|
|HDB 3rm rent||8.0%||1.1%|
|HDB 4rm rent||8.0%||-0.2%|
|HDB 5rm rent||9.0%||0.2%|
|HDB exec rent||7.7%||0.7%|
The following charts show the price and rental index of all the segments covered by SRX.
Sale private non-landed all sale all, CCR, RCR, OCR
Sale private non-landed all sale condo all, north, north east, west, east, central
Sale private non-landed all sale apartment all, north east, west, east, central
Sale private non-landed resale all, CCR, RCR, OCR
Sale private landed all sale all, CCR, RCR, OCR
Sale private landed all sale terrace, all, north, north east, west, east, central
Sale private landed all sale semi-d and detached all, north east, east, central
Sale private landed resale all, CCR, RCR, OCR
Sale HDB all, 3, 4, 5, executive room
Rent private non-landed all, CCR, RCR, OCR
Rent HDB all, 3, 4, 5, executive room
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