
HDB unveils revisions for outdated Resale Price Index
More flat attributes will be taken into account.
The Housing and Development Board (HDB) today detailed several changes to the closely-watched Resale Price Index (RPI), which will be effective starting the fourth quarter of 2014.
The current RPI only groups units according to flat type, model and region. The HDB will now adopt the stratified hedonic regression method to compute the RPI. This method will take different flat attributes into account, such as age, size, storey, and proximity to amenities.
The HDB will also update the base period to 1Q09 from the current 4Q98. This means that the RPI for 1Q09 will be at 100.