SRPI up 1% in August

By The Folks @PropTalk - September 29, 2012 No Comments
Prices of resale private homes edged up 1 per cent in August, reversing a 0.6% 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%, compared to a 0.6% 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% year-on-year .

Meanwhile, prices of homes in the central area climbed 0.5%, recovering from a 0.5% 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% in August.

On a year-on-year basis, Mr Mak added that prices of units in the central area dipped 1.5%, while the overall price of small apartments dropped 1.0%.
Source: Channel News Asia

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