Singapore private homes resale prices retreated in May
June 28, 2016
Prices of completed private apartments in Singapore slid a marginal 0.8% in May, after slight hike in April. According to flash estimates from the NUS Singapore Residential Price Index (SRPI), resale prices of homes in all regions in the state recorded decline in the month of May when compared with a month ago.
Prices of homes in the central region, excluding small units,fell 0.5% from the previous month. In the non-central region, prices of homes excluding small units, retreated 1.0% month on month during May. While prices of small units, which have a floor area of 506sqf or below, declined 1.1% during the month of May when compared with a month ago.
Singapore Residential Price Index (SRPI) compiled by the National University of Singapore's Institute of Real Estate Studies. It is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore. The index climbed 0.3% in April after 1.1% decline in March.