US Singapore Residential Price Index (SRPI)

Introduction

The National University of Singapore (NUS) Singapore Residential Price Index Series (SRPI) is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore. Developed by a team of researchers at IREUS, the SRPI provides a resource for the development of property derivatives that would help to expand the suite of financial products offered in Singapore, particularly in the context of obtaining exposure to and managing risks associated with the real estate market.  It will also complement existing property information on the state of the residential market.

Currently, SRPI indexes are published in the form of value-weighted indexes. The SRPI is the index for the overall non-landed residential market in Singapore based on the whole SRPI property basket. Two sub-indexes are also produced for the Central and non-Central regions. The Central region sub-basket comprises properties within the overall SRPI basket located in Postal Districts 1 through 4 and 9 through 11 while properties in the other postal districts are in the non-Central region sub-basket.

The NUS SRPI basket is updated biennially. We have just revised it and the latest version will be effective for NUS SRPI coverage from February 2024. Please refer to the attachment for more details. Thank you!

NUS SRPI Basket Update - Press Release 1 April 2024

Annual White Paper 2023

SPRI Annual White Paper 2023

An overview of the non-landed private residential market in 2023, with an analysis on the impact of the April 2023 property cooling measures.

September 2024 Flash SRPI Values

SRPI Basket as at December 2023 Index Value
(Mar 2009= 100)
Month-on-month change
SRPI Overall 187.3 0.0%
SRPI Central (excluding small units) 157.3 -0.6%
SRPI Non-Central (excluding small units) 215.5 0.4%
SRPI Small Units 194.9 -0.1%

(Reflective of transactions received as at 21 October 2024)

 

August 2024 Revised SRPI Values

SRPI Basket as at December 2021 Index Value
(Mar 2009= 100)
Month-on-month change
SRPI Overall 187.3 -0.2%
SRPI Central (excluding small units) 158.2 -0.5%
SRPI Non-Central (excluding small units) 214.7 -0.1%
SRPI Small Units 195.0 0.1%

(Reflective of transactions received as at 21 Ocotober 2024)

With effect from 28 July 2011, IREUS will publish the overall SRPI, two regional sub-indices that exclude small units and a small unit sub-index. A small unit has floor area of 506 square feet or below.

With effect from January 2013, IREUS will publish the SRPI chart using March 2009 as the base period. The SRPI and its sub-indices bottomed then and this change better reflects the movement in price.

NUS SRPI Historical Data

SRPI White Paper 24th Mar 2010

Enquiry NUS_SRPI@nus.edu.sg