Prices of completed private apartments, condos up 0.6% in June: NUS index

PRICES of completed private apartments and condominiums in Singapore appreciated in June 2016 over the preceding month – contrasting with the month-on-month decline posted in May this year.

National University of Singapore’s (NUS) June flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Thursday reflects a 0.6 per cent month-on-month (m-o-m) increase – contrasting with a 0.9 per cent m-o-m drop in May, based on the revised index value for that month.

The sub-index for the Central Region (excluding small units) climbed 0.7 per cent month on month in June, after easing 0.6 per cent in May.

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 appreciated 0.4 per cent in June, after slipping one per cent in May.

NUS’s sub-index for small units of up to 506 sq ft islandwide inched up 0.2 per cent last month – contrasting with a 1.1. per cent decline in May.

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