SRX launches real-time property pricing feature

[SINGAPORE] Negotiating property prices, especially for HDB resale flats, will no longer be like a shot in the dark with "X-Value", a new real-time pricing feature.

Launched by the Singapore Real Estate Exchange (SRX), it is derived algorithmically based on past transacted prices of comparable units. It is also adjusted for factors such as size, location, amenities, floor level and the direction where the unit is facing.

"It is not an appraisal, but aims to provide a standard for pricing homes and assisting pre-valuation financing decisions," SRX said yesterday.