Prices of completed private apartments, condos up 0.2% in July: NUS index

PRICES of completed private apartments and condominium units in Singapore crept up 0.2 per cent in July over the preceding month.

This is according to the National University of Singapore’s (NUS) July 2016 flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Monday.

The July increase in the index follows a 0.7 per cent month-on-month gain in June 2016, based on the revised index value for that month.

NUS’ data also showed that the sub-index for the Central Region (excluding small units) climbed 0.7 per cent month on month in July, adding to June’s 0.9 per cent rise.

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 dipped 0.2 per cent in July, against a 0.6 per cent rise in June.

NUS’ sub-index for small units of up to 506 sq ft islandwide was flat last month – after increasing 0.4 per cent in June.

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