PROPERTY MARKET STATISTICS

SINGAPORE - Offices Price Indices by Area (from 1990)

(1998Q4 = 100)

Source: REALIS by Urban Redevelopment Authority

The statistics were compiled from information in caveats lodged at the option stage with the Singapore Land Registry.  A caveat is normally lodged by a purchaser to protect his/her interest of a property shortly after the option to purchase is exercised.The prices in 4Q98 are used as the base reference price of the index (i.e. the index for 4Q98 assumes a value of 100).The indices are compiled based on a Moving Average weight method, whereby the value of properties transacted in the past 12 quarters are used as weights.