Prices of resale private homes up 1% in August

Prices of resale private homes edged up 1 per cent in August, reversing a 0.6 per cent drop in July.

This is according to the Singapore Residential Price Index (SRPI) flash estimates published by the Institute of Real Estate Studies at National University of Singapore.

The August statistics show that resale private property prices across the island continued to advance in August over the previous month.

In particular, the prices of private homes in the non-central region increased 1.5 per cent, compared to a 0.6 per cent decline in July.

Nicholas Mak, executive director at SLP International Property Consultants, said the growth momentum in the prices of non-central private homes has been the steadiest.

While the sector reported price declines in a few months over the past year, he said overall prices of private homes in the non-central area increased by 4.5 per cent year-on-year .

Meanwhile, homes in the central area climbed 0.5 per cent, recovering from a 0.5 per cent dip over the previous month.

Small apartments with a floor space of 506 square feet and below continued to see prices increase by 0.8 per cent in August.

On a year-on-year basis, Mr Mak added that prices of units in the central area dipped 1.5 per cent, while the overall price of small apartments dropped 1.0 per cent.

Source : Channel NewsAsia – 29 Sep 2012

Join The Discussion

Compare listings