AskPropSG vs ChatGPT

5 August 2023

Introduction

This blog seeks to showcase AskPropSG’s ability against ChatGPT in a head-to-head comparison on certain topics about Singapore property. While both systems hold their ground in their respective areas, they each bring unique features to the table. Although built using the GPT API, AskPropSG pairs this with an RAG (Retrieval-Augmented Generation) system to boost its effectiveness and relevance specifically to the Singapore property market.

By grounding the model on the retrieved context, RAG helps in significantly reducing hallucination, thereby enhancing factuality. This makes AskPropSG not only accurate but also agile in providing information specific to the Singapore property market.

AskPropSG not only leverages the efficiency of RAG but also has the ability to read and comprehend tabular transaction data, data that is typically not accessible on the internet without payment. This unique capability sets it apart and adds a new dimension to its functionality.

In this head-to-head comparison, we will explore the strengths, features, and distinctions between AskPropSG and ChatGPT.

Head-to-Head Comparison

Policy Changes and News Updates

AskPropSG can give the TLDR (summarise & explain) on current topics for agents such as:

• 99-to-1 crackdown

Complete understanding of the issue and IRAS’s response

ChatGPT’s answer in comparison, does not know about the crackdown on the loophole

• GFA Harmonisation

Details on regulatory bodies involved, exact rule change and effects of the change

Unable to discern the correct definition of GFA, let alone expand on rule change

• Effect of increase in GLS

Highly relevant understanding of the current environment

Very general and vague response with little context

Regulatory Questions

• Nuances in ABSD application

Understands that the higher rate would apply to the whole purchase price

ABSD rates are out of date and application is wrong, rates are not applied only to respective shares even though it is a tenancy in common

• Questions regarding CPF for loan instalments

Delves deeper into the limitations of using CPF for both HDB and bank loans

Only able to give VL and WL limits

New Launch Details

• AskPropSG can provide details about new property launches.

Condenses essential information about new launches according to instructions

No knowledge of the existence Pinetree Hill, but gives a fictional description

• AskPropSG can compare different properties side-by-side on various features.

Side-by-side and in-depth comparison of different condos

Does not know of either condo’s existence

Complete Transaction Data from REALIS

ChatGPT does not have access to REALIS data in any capacity.

• AskPropSG accesses and utilises transaction data from REALIS.

• Provides a data table as well as a summary of the data to answer the user’s question. Includes:

  • Rental transactions.
  • Commercial sales transactions.
  • Industrial sales transactions.

• Includes capabilities like:

  • Identifying most unprofitable properties in a district.

    

  • Find the project with the best average annualised return in a district.

    

  • Yearly average PSF by district

    

Conclusion

In Singapore's dynamic real estate market, having access to accurate and up-to-date information is vital. AskPropSG stands out by not only leveraging the power of GPT but also integrating an RAG system to bring a unique and tailored experience to users. Its ability to tap into exclusive tabular transaction data and provide insights in real-time positions it as an essential tool for anyone involved in property dealings in Singapore. We invite you to explore these features and join us on this exciting journey.

To start your AskPropSG experience, just head over to askprop.sg.