News > REA Property Price Index: An Objective Indicator for Singapore's Property Market Analysis
REA Property Price Index: An Objective Indicator for Singapore's Property Market Analysis
18 June 2024
In a landscape where timeliness and accuracy of data are essential, REA Property Price Index represents a pioneering approach to understanding and navigating Singapore's dynamic real estate market. Built upon the foundation of the Hedonic Model, our index offers unparalleled insights into the intricacies of property valuation, going beyond mere transactional data to provide a comprehensive view of market trends and shifts.
What is REA Property Price Index?
REA Property Price Index is an indicator of real estate market performance, developed by Real Estate Analytics (REA). It demonstrates the general movement of property prices overtime, offering valuable insights into the trends and fluctuation of the property market.
At its core, REA Property Price Index leverages the Hedonic Model, a sophisticated statistical method that factors in various attributes such as property size, location, and proximity to amenities. This approach enables us to strip away the noise of individual property features and isolate the underlying trends shaping the market. By focusing on broader indicators, REA Property Price Index offers a clearer and more objective perspective than other indexes in the market, making it a crucial tool for any analysis and market report.
By focusing on broader indicators, REA Property Price Index offers a clearer and more objective perspective, making it a crucial tool for any analysis and market report.
Additionally, REA Property Price Index benefits from REA's intensive real-time transaction database, which compiles up-to-date data on property sales and transactions. This enhances the accuracy and relevance of the index, ensuring that it reflects the latest market activities and trends. By integrating real-time data, REA Property Price Index provides a more immediate and precise snapshot of the market, allowing for timely and informed decision-making.
What can REA Property Price Index be used for?
REA Property Price Index is designed to cater to a diverse range of users, from seasoned investors to first-time homebuyers. It turns complex data into a simple trend line that is intuitive and informative, ensuring that everyone can effortlessly gain valuable insights into property market trends.
REA Property Price Index can be used for:
Assessing Market Performance:
REA Property Price Index provides valuable insights into market trends, allowing users to identify emerging patterns, assess demand-supply dynamics, analyse the impact of government policies, and make informed predictions about future developments.
*Illustration: Area-specific REA Residential Price Index in RealInsight
Analysing Granular Data:
REA Property Price Index on RealInsight's advanced analytics platform provides users with the ability to “slice and dice” data according to specific criteria, allowing for a granular analysis of property indices. For example, you can examine price trends for condos in a particular district or compare rental yields for HDB flats of different sizes. Our index offers flexibility in dissecting market data, enabling users to tailor their analysis to specific preferences or investment strategies, facilitating deeper insights into market dynamics.
*Illustration: REA Residential Price Index customisable time chart in RealInsight
Strategising Investment Portfolio:
For investors, REA Property Price Index serves as a strategic tool for evaluating investment opportunities and optimising portfolio performance. By leveraging our index's granular data and real-time insights, investors can identify promising sectors, mitigate risks, and maximise returns.
What makes REA Property Price Index different from other indexes in the market?
Real-Time Insights:
Leveraging REA’s extensive real-time property transaction database, REA Property Price Index delivers real-time insights into price movements, enabling real estate professionals to stay constantly updated with the latest trends. Whether it's monitoring month-on-month sales or rental price fluctuations, our index provides up-to-the-minute information for informed decision-making.
Wide Coverage for Property Sub-markets:
REA Property Price Index sets a new standard with over 400 categories, offering unmatched coverage of Singapore's diverse property landscape:
- By Group: Region, district, area, project, developer, etc.
- By Activity Type: Sale, resale, new sale, rent, etc.
- By Property Type: Condo, HDB, landed.
- By Property Sub-type: 1-4 bedroom, 2-5 room HDB, terrace house, detached, semi-detached, etc.
*Illustration: Comparison between REA Property Price Index and other indexes
How to access REA Property Price Index?
REA Property Price Index can be accessed through RealAgent app and RealInsight:
RealAgent:
REA Property Price Index is available for free in RealAgent app, limited to Sale/Rent Index for Condo, HDB, Landed and Office. Learn more about RealAgent here or click on the links below to download the app:
RealInsight:
REA Property Price Index is available in full in RealInsight. Click here to learn more about RealInsight or request a free demo with us here.
To know more about our data-driven real estate solutions, contact us here.
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At Real Estate Analytics, we're revolutionising the real estate industry with our cutting-edge AI technology. By applying advanced data science in real estate industry, and providing customised services for people with various property needs, our market trends and insights, agent enhanced tools, and REA Developer Suite deliver realistic and reliable end-to-end solutions that enables everyone can make their informed decisions. Our solutions are available across Singapore, Malaysia, Hong Kong (China), Indonesia and Australia. Explore Our Seamless Data-Driven Real Estate solutions here.
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