What is Annual Value (AV)?
Annual Value (AV) represents the approximate gross annual rental income the property would generate if leased, excluding furnishings, furniture, and upkeep charges.
It’s calculated using estimated market rental rates of comparable properties.
Factors affecting Annual Value (AV)
There are multiple factors IRAS consider when determining Annual Value (AV):
- Rentals of similar or comparable properties in the vicinity
- Size of property
- Location of property
- Condition of property
- Other relevant physical attributes
How can I calculate Annual Value (AV)?
There is no reliable way to calculate Annual Value (AV) on your own, as there’s no guidance as to how “furnishings, furniture, and upkeep charges” are calculated.
Where can I check Annual Value (AV)?
You can check the AV of your property using IRAS digital service: View Property Dashboard.
If you need to check AV of any property that doesn’t belong to you, you can also use the service Check Annual Value of Property at a fee of $2.50 per search.
Median Annual Value (AV) for HDB and Private Property
The latest published median Annual Values for residential property in Singapore is for 2021.
Case study
Shelwyn owns a 1-bedroom apartment (1BR) at 5 Siglap Road with a size of 830sqft.
She rented out her property at a gross rent of $4,800/mo from 1 Jan 2023.
From our analysis, comparable properties within the development are fetching monthly rentals ranging from $4,300 to $5,250/mo.
After providing a reasonable allowance for furniture, furnishings and maintenance fees, we derived the AV of his property at $36,000 ($3,000/mo).
Note
- Your gross rental amount may not necessarily be used in calculation
- There is no fixed amount for “furniture, furnishing and maintenance fees”
- For the most updated AV of your property, always use IRAS digital service: View Property Dashboard