Resale prices of private homes down 1% in March: Property index

Resale prices of private homes fell in March, after a marginal increase the previous month, according to flash estimates from the Singapore Residential Price Index (SRPI) released on Thursday (Apr 28).

The SRPI, compiled by the National University of Singapore’s Institute of Real Estate Studies, showed overall prices declined 1 per cent in March from the previous month. In February, prices rose 0.4 per cent from a month earlier.

Prices of homes in the non-central region, excluding small units, led the decline, falling 1.4 per cent from the previous month. In the central region, prices of homes, excluding small units, fell 0.5 per cent.

Prices of small units, which have a floor area of 506sqf or below, fell 1 per cent in March compared to the previous month.

Source : Channel NewsAsia – 28 Apr 2016