SRX Property, a platform for real estate listings, last week announced the launch of a new resource that uses big data to help home owners make decisions about how to cash out of their homes, upgrade or right-size their properties.

The new Web app, called Unlock myHome's Wealth, is available on SRX's rebranded Internet platform mySG Home, a free portal formerly known as myProperty Tracker.

Unlock myHome's Wealth employs data such as X-Value computer-generated valuations, and applies Central Provident Fund (CPF) borrowing rules, total debt servicing ratio (TDSR) and Iras stamp duty rules.

The Web app makes it easy for home owners to adjust CPF details, additional savings and mortgage variables, SRX said.

"CPF affords Singaporeans great opportunities for financing homes, while TDSR helps protect families from risks associated with home buying," said Mr Jeremy Lee, chief technology officer of SRX Property.

"While this is all good, it means there are many complicated rules and financial variables that home owners must consider when estimating how much they can cash out and what new properties they can afford.

"While developing this app, we learnt that it is impossible to use an Excel spreadsheet to manually calculate all the variables and then conduct what-if-then scenarios. This led us to the idea of developing a toggle switch that makes it fun and fast to adjust cash-out and savings to see what you can buy."

More than 65,000 home owners and renters are enrolled in mySG Home. SRX said it is on track to reach 500,000 enrolments this year.

SRX Property is operated by StreetSine Technology group, a subsidiary of Singapore Press Holdings.