Resale private home prices up 1.5% in May

Prices of resale private homes in Singapore climbed 1.5 per cent on-month in May, according to flash estimates of the Singapore Residential Property Index (SRPI) by the National University of Singapore (NUS).

This marked the third consecutive monthly increase in the overall private home market.

While prices rose in all Singapore regions in May, those in the non-central area rose most sharply, by 2.2 per cent.

Prices in the central region were higher by 0.8 per cent.

The index covering small units of 506 square feet and below, otherwise known as shoebox apartments, rose by 0.9 per cent, after a 0.8 per cent decline in April.

Source: Channel NewsAsia – 28 Jun 2012

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