Resale prices of private homes rebound in January

Prices of resale private homes rebounded in January, rising 0.3 per cent, reversing the previous month’s 0.2 per cent decline, according to the Singapore Residential Price Index flash estimates published by the Institute of Real Estate Studies at the National University of Singapore.

The increase in January was led by price growth in the small unit segment, defined as homes below 506 square feet.

In January, prices of small units rose 2.6 per cent, reversing a 0.7 per cent fall in December.

Prices of resale homes located in the central region also climbed by 0.7 per cent in January, following a 1.5 per cent decrease in the previous month.

Meanwhile, the only segment that registered a price drop last month was homes outside the central area.

Prices fell 0.1 per cent in January, compared with a 0.8 per cent increase in December.

Source : Channel NewsAsia – 28 Feb 2013

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