Non-landed private home prices up 0.1%

Prices of completed non-landed private homes in Singapore inched up 0.1 per cent last month from August, based on the  flash estimates compiled by the National University of Singapore for its Singapore Residential Price Index (SRPI) released yesterday.

The slight price rise follows a 0.7 per cent month-on-month fall in August, based on the revised index value for that month. The fall in August was due in part to slower buying interest in the seventh lunar month.

Islandwide, prices of small apartments and condo units (up to 506 sq ft) rose 0.4 per cent, after dipping 0.1 per cent in August.

Prices of units outside the prime central area (excluding shoebox units) rose 0.3 per cent last month, after falling 0.8 per cent in August.

The central region is defined as districts 1 to 4 (including the financial district and Sentosa Cove) and the traditional prime districts 9, 10 and 11 by the university’s Institute of Real Estate Studies, which created the SRPI series tracking prices of completed private apartments and condos.

Prices for the central region fell 0.4 per cent last month, after a 0.3 per cent decline in August.

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