Completed condo prices slip 0.5% in July: NUS index

Completed condo prices slip 0.5% in July: NUS index

According to the National University of Singapore’s (NUS) flash estimates for its Singapore Residential Price Index (SRPI) released on Tuesday, prices of completed non-landed private homes continued to lose momentum in July, declining 0.5 per cent month-on-month after a slower appreciation in June.

In June, prices rose 0.7 per cent, down from a positive 1.6 per cent pace in May.

The July decline applied across the board. Excluding small units, prices for apartments in the central region eased 0.2 per cent compared to a 0.6 per cent increase the month before. Those outside the central region slipped 0.7 per cent, reversing a 0.8 per cent increase in June.

For small units – those no bigger than 506 square feet, prices fell 0.6 per cent in July, compared to a 0.7 per cent increase in June.

Year-to-date, prices for the overall market are up 3.7 per cent, led by a 3.8 per cent increase in the non-central region.

Year-on-year prices have risen 8.0 per cent, driven by a 9.4 per cent increase in the central region and a 6.9 per cent gain in the non-central region.

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