PRICES of completed private apartments and condominium units in Singapore fell 0.6 per cent in August over the preceding month.
This is according to the National University of Singapore’s (NUS) August 2016 flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Wednesday.
Last month’s decline in the index contrasts with a 0.3 per cent month-on-month gain in July 2016, based on the revised index value for that month.
NUS’s data also showed the the sub-index for the Central Region (excluding small units of up to 506 square feet) was flat last month after ascending 0.6 per cent month on month in July.
The Central Region is defined as Districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11 by the NUS’s Institute of Real Estate Studies, which produced the SRPI series tracking the prices of completed non-landed private homes.
In the Non-Central Region (again excluding small units), prices fell 0.9 per cent last month, after dipping 0.1 per cent in July.
NUS’s sub-index for small units islandwide dipped 0.1 per cent in August after remaining unchanged in July.