So today, by sheer luck, when I was discussing personal finance matters with a friend, he introduced me a new site that I have never heard of – SRX.
And wow I was blown away by the features of the platform!
Basically, SRX is a property portal under Singapore Press Holdings. With SRX, you can enter your property address and instantly get the estimated value of the property, along with other information such as property price over time, estimated rental as well as your rental yield.
The data SRX pulls consist of sources industry sources such as ERA, Propnex, OrangeTee (for residential) and various other real estate agencies such as CBRE, Savills etc for commercial. As they are all the major real estate agencies – they have access to real life transactions of all the properties in Singapore.
The user interface is straight forward too – enter your address, and your property value comes out.
Beyond just stating the transaction prices, SRX also provides you hypothetical options to unlock your property wealth, for example, if you want to cash out and upgrade your property, or you want to cash out and rent, or to cash out completely, and what the numbers look like.
In our case, should we choose to cash out and get a similar property, we are able to set how much we want to cash out, and with the balance, what are the available new housing option for us (second property). SRX straight away shortlists a few project that fits under that new pricing category.
The site then makes money through referral, by referring you to agents who would then help you in your upgrading options.
There are also other options such as managing your home loan, electricity and more, all of which you can discover on the platform.
I think this is a great platform for us to estimate how much we will need if we were to upgrade our current home.
As our current house was purchased for investment purposes 4 years ago by Mrs Budget, if we do have our second kid few years down the road, we will have to move to a bigger place to accommodate this new environment.
And I can already imagine myself doing the research through SRX.
For now, will just use this to track the equity value of our current home. Such a great platform! 🙂