What IndexProp measures, market by market

IndexProp is not one dataset. It is one method applied to each country’s own public transaction registers, and those registers differ enough that the differences are worth stating before any figure is read.

Singapore

Four registers, never pooled: HDB resale registrations, HDB renting-out approvals, URA private sale caveats and URA private lease contracts. HDB publishes the price and the floor area on the same record, so there is no address matching step and no match rate to report. The current build carries 983,157 resales on record back to 1990, of which 24,284 fall in the last twelve months, across 55 districts, with 4,239 named roads resolving to one of them by search, plus 135,166 private sale caveats.

The headline is a median price per square foot, which is how the market itself quotes it. Public and private housing are published side by side and never averaged: they are different products with different buyers, different eligibility rules and different tenure. Open Singapore.

United Kingdom

Two sources joined on address: HM Land Registry Price Paid Data for the price, and Energy Performance Certificates for the floor area. The join is the defining constraint. A sale without a certificate is counted but cannot be priced per square metre, which is why that market publishes a match rate and a matching-bias figure that Singapore has no need for. The current build carries 599,244 sales in the last twelve months, of which 474,766 are matched to a floor area, across 2,279 postcode districts. It is published as RealScout on its own domain. Open RealScout UK.

What follows from the difference

The same word means different things in the two markets. “Floor area” is a certificate’s measurement in one and a register’s own field in the other. “Transaction” is a registered transfer in one and a resale registration or a lodged caveat in the other. Those are not rounding differences, and they are the reason IndexProp publishes each market on its own terms rather than flattening both into a league table. What that rules out, for now, is set out on the methodology page.