Kaeden Ong

Private home prices up 0.8% in May

Posted by Kaeden Ong on 12th July 2014 in Blog

Prices of non-landed private homes in Singapore rose 0.8 percent in May, following a revised 1.0 percent decline in April, showed the Singapore Residential Price Index (SRPI) published by the National University of Singapore (NUS) yesterday.

Home prices in the Central Region (excluding shoebox units of up to 506 sq ft) climbed 0.7 percent, after declining 0.1 percent in April.

Meanwhile, prices of homes in the non-central region (excluding small units) rose 0.8 percent, rebounding from April’s 1.9 percent fall, revealed the index.

Prices of small units in that region increased 0.8 percent, recovering from the previous month’s 1.0 percent drop.

The NUS SRPI is a transactions-based index that tracks the month-on-month price movements of Singapore’s private non-landed residential properties, developed by a team of researchers at university’s Institute of Real Estate Studies (IRES).

Credits: Property Guru

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