• Source and Coverage
  

  The private residential property price indices and median prices are compiled from caveats lodged at Singapore Land Authority (SLA), supplemented with Stamp Duty data from the Inland Revenue Authority of Singapore (IRAS), as well as data provided by developers for new sales. Additional information, such as property type, is obtained from records kept at URA.

  For resale and subsale transactions, we use data from caveats lodged with the SLA, supplemented with Stamp Duty data from IRAS. A caveat is usually lodged by the purchaser to protect his/her interest soon after an option to purchase a property is exercised or a sale and purchase agreement is signed. Transactions which are not caveated will still be included as the contracts are submitted to IRAS for stamp duty payments. The price of properties excludes stamp duties, legal & agency fees and other professional fees. It is the agreed purchase price of the property between the purchaser and the vendor as entered in the contract.

  For new sale transactions, the information used to compile the statistics is collected from housing developers. To ensure that accurate prices are used for compiling the PPI, URA collects nett prices (i.e. prices after deducting the value of the indirect discounts or benefits) of private residential units sold by licensed and de-licensed housing developers and we use these nett prices to compute URA's quarterly property price index.

  As the PPI is meant to provide a broad indication of price trends, transactions that are not representative of the general price movements in the private housing market will be excluded in the improved PPI e.g. Enbloc transactions for the purpose of redevelopment and units with short tenures.

• Methodology
  

  From the 1st Quarter of 2015, the private residential property price indices are computed using a "stratified hedonic regression methodology". Under this method, variations in the attributes of private residential properties transacted such as age and unit size are controlled for by using hedonic regressions and price movements are aggregated using 5-quarter fixed weights to derive the aggregate price change.

  Besides an overall property price index for private residential properties, separate sub-indices for landed and non-landed private residential properties are also compiled. Landed properties comprise detached houses, semi-detached houses, terrace houses and strata landed houses. Non-landed properties comprise apartments, condominiums and executive condominiums of more than 10 years old.

  HDB flats and other public sector buildings are excluded in the compilation of the property price index.

  The non-landed properties are further broken down into 3 market segments - Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR). Core Central Region comprises Postal Districts 9, 10, 11, Downtown Core Planning Area and Sentosa. Rest of Central Region comprises the area within Central Region that is outside postal districts 9, 10, 11, Downtown Core Planning Area and Sentosa. Outside Central Region (OCR) covers the area outside the Central Region. A map of Central Region showing the CCR and the RCR is available here.

• Source and Coverage
  

  The property price indices and median prices for commercial properties (i.e. office and retail space) are compiled from caveats lodged at Singapore Land Authority (SLA), supplemented with Stamp Duty data from the Inland Revenue Authority of Singapore (IRAS). Additional information, such as property type, is obtained from records kept at URA.

  A caveat is usually lodged by the purchaser to protect his/her interest soon after an option to purchase a property is exercised or a sale and purchase agreement is signed. Transactions which are not caveated will still be included as the contracts are submitted to IRAS for stamp duty payments. The price of properties excludes stamp duties, legal & agency fees and other professional fees. It is the agreed purchase price of the property between the purchaser and the vendor as entered in the contract.

  As the PPI is meant to provide a broad indication of price trends, transactions that are not representative of the general price movements in the commercial market will be excluded in the improved PPI e.g. Enbloc transactions for the purpose of redevelopment and units with short tenures.

• Methodology
  

  To compute the price indices, transactions are grouped by property type, locality, land tenure and completion status. The median price in each group is used to compute a sub-index.

  The price index of a particular property type is the weighted average of all the sub-indices of that property type in the various groups. Prior to the 4th Quarter of 1998, the price indices were computed based on weights assigned to the various property types in each locality. The weights are derived from the value of transactions for each property type in each locality in a fixed year called the base year (= 1990).

  From the 4th Quarter of 1998, the price indices were computed based on the Moving Average method. This means the weights are computed based on the moving average of the value of transactions over the last 12 quarters, instead of being based on the value of transactions in a particular year. The weights in the price indices are therefore updated quarterly so that they are as current as possible.

  Indices for office and retail as well as sub-indices by locality are compiled. As most of the office and retail space are concentrated in the Central Region, sub-indices for the outlying regions are not compiled. Within the Central Region, the locality classification used is Central Area and Fringe Area.

• Source and Coverage
  

  The private residential rental indices and median rentals are compiled from tenancy agreement data from the Inland Revenue Authority of Singapore (IRAS).

• Methodology
  

  From the 1st Quarter of 2015, a "stratified hedonic regression methodology" is used to compute the rental indices. Under this method, variations in the attributes of rental private properties transacted such as age and unit size are controlled for by using hedonic regression and rental movements are aggregated using 5-quarter fixed weights to derive the aggregate rental change.

  Besides an overall rental index for private residential properties, separate sub-indices for landed and non-landed private residential properties are also compiled. Landed properties comprise detached houses, semi-detached houses, terrace houses and strata landed houses. Non-landed properties comprise apartments, condominiums and executive condominiums. HDB flats and other public sector buildings are excluded in the compilation of the rental index.

  The non-landed properties are further broken down into 3 market segments - Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR). Core Central Region comprises Postal Districts 9, 10, 11, Downtown Core Planning Area and Sentosa. Rest of Central Region comprises the area within Central Region that is outside postal districts 9, 10, 11, Downtown Core Planning Area and Sentosa. Outside Central Region (OCR) covers the area outside the Central Region. A map of Central Region showing the CCR and the RCR is available here.

• Source and Coverage
  

  The rental indices and median rentals are compiled from tenancy agreement data from the Inland Revenue Authority of Singapore (IRAS).

• Methodology
  

  To compute the rental indices, rental transactions are grouped by property type and locality. The median rental in each group is used to compute a sub-index.

  The rental index of a particular property type is the weighted average of all the sub-indices of that property type in the various groups. Prior to the 4th Quarter of 1998, the rental indices were computed based on weights assigned to the various property types in each locality. The weights are derived from the value of rental transactions for each property type in each locality in a fixed year called the base year (= 1990).

  From the 4th Quarter of 1998, the rental indices were computed based on the Moving Average method. This means the weights are computed based on the moving average of the value of rental transactions over the last 12 quarters, instead of being based on the value of transactions in a particular year. The weights in the rental indices are therefore updated quarterly so that they are as current as possible.

  Indices for office and retail as well as sub-indices by locality are compiled. As most of the office and retail space are concentrated in the Central Region, sub-indices for the outlying regions are not compiled. Within the Central Region, the locality classification used is Central Area and Fringe Area.

• Coverage
  

  The stock of private residential units covers landed properties (i.e. detached houses, semi-detached houses and terrace houses) and non-landed properties (i.e. apartments and condominiums).

  The stock of office and retail spaces covers the relevant spaces within commercial buildings as well as those in Housing & Development Board estates and shophouses. However, it excludes office and retail spaces which are ancillary to factory/warehousing developments.

• Source
  

  The stock of private residential units and commercial space is updated quarterly based on information in Temporary Occupation Permits (TOP)/Certificates of Statutory Completion (CSC) and permits for change of use or demolition.

  The vacancy rates of private residential units were inferred from the water and electricity consumption levels for all completed private residential units in Singapore.

  The vacancy rates of office and retail space were obtained mainly through electronic and mail surveys. All completed and partially completed developments were covered in the surveys.

The statistics are compiled by the Inland Revenue Authority of Singapore (IRAS). The first series was compiled in 2nd Quarter of 1996. IRAS's stock of private residential properties is captured from Notices of Transfer (NT) filed by property owners and only include a property after its value has been assessed. URA's stock is captured from the Temporary Occupation Permits (TOP). Hence URA's stock figures are different from IRAS'.

• Coverage
  

  All new residential projects that are issued with sale licences by the Controller of Housing are covered. Under the Housing Developers (Control and Licensing) Act, a developer licence must be obtained to develop a project with more than 4 units. The units can only be sold by the developer if the developer licence permits the sale of the units before they are completed and after the building plan approval for the development is obtained.

• Source
  

  The information on the number of units launched and sold by developers and the nationality or residential status of their purchasers is provided by developers with sale licences.

• Coverage
  

  The statistics cover all developments under construction as well as planned developments.

  A project is deemed to be under construction when a permit to commence building works in respect of that building is issued by the Commissioner of Building Control.

  Planned developments are developments on which construction has not commenced. They comprise:

  1. projects for which Provisional Permission, Outline Provisional Permission and/or Written Permission from URA has been granted;
  2. projects for which plans have been submitted to URA for planning approval and which are under consideration;
  3. projects on awarded Government Land Sales sites for which plans have not been submitted to URA for planning approval;
  4. projects on Government Land Sales sites which have been announced for sale or launched for tender; and
• Source
  

  The data are obtained from a combination of administrative records from the Development Control Division, URA and the Building and Construction Authority. URA also carries out surveys to update the expected date of Temporary Occupation Permit (TOP).

  The supply in the pipeline is scheduled by expected year of TOP to give an indication of the yearly quantum of supply. The expected TOP dates are obtained from the development/building application forms submitted by developers/architects for development/building control approval. Subsequently, the information is updated through quarterly surveys. As such, the residential units which will be realised may be less than the published figures because of possible delays and changes to projects.