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Real Estate Information System
Institution: Urban Redevelopment Authority (URA)
Implementation Date: Jan 01, 2001
Summary: The Real Estate Information System (REALIS) launched by the Urban Redevelopment Authority (URA) is a real estate information portal that provides enormous savings in time and costs. REALIS has enabled flash estimates of a property price index. Customers do not need to retrieve data from various sources or maintain their own databases to compile the required data. Updates of REALIS are made frequently and vast amounts of information are made available in the shortest time possible.

In 2004, through requests from members of the public for short-term access to information in REALIS, URA introduced an affordable daily subscription rate for REALIS in order to cater to the needs of short-term users such as home buyers, researchers, and investors who want access to certain data that cannot be found on other web sites.
Impact: REALIS is one of the first online real estate portals provided by a government in Asia. It has been well received by both domestic and international users. The Government of Thailand signed a memorandum of understanding with URA in February 2002 to adopt some of the good practices for implementing a similar system in Thailand.

With the implementation of REALIS, URA computerized back-end processing and business capacity was greatly enhanced. For example, the back-end data-crunching time was shortened so that REALIS was able to increase the frequency of property transaction updates from fortnightly to twice a week. The flash estimate of the property price index has reduced the time needed for the first release of the property price index from six weeks after each quarter has elapsed to one day – an enormous improvement.
Source: Urban Redevelopment Authority
Project Home URL: https://spring.ura.gov.sg/lad/ore/login/index.cfm
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