Singapore Residential Price Index Launched

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The new Singapore Residential Price Index (SRPI), developed by the National University of Singapore’s (NUS) Institute of Real Estate Studies, was launched today. It uses a “basket based” approach covering new projects, condominiums and apartments (i.e., non-landed private residential properties). The aim of this index is to indicate the state of the residential property market in Singapore. The basket of properties tracked will be adjusted once every two years to reflect the changes in supply and the basket will be revised in December 2011 again. NUS wants the new index to complement the Urban Redevelopment Authority’s quarterly data.

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