Private housing resale prices up 1.2% m-o-m in April: NUS SRPI
Private housing resale prices up 1.2% m-o-m in April: NUS SRPI. According to preliminary data released on May 30, the Singapore Residential Price Index (SRPI) increased by 1.2 percent month on month in April, up from 0.2 percent the previous month. The April figures represent an increase of 7.9 percent year on year.
The Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore (NUS) tracks the SRPI, which measures price movements in private non-landed residential properties in Singapore. The index specifically tracks a basket of 759 private residential projects completed between October 2003 and September 2021.
Prices for properties, excluding small units, increased m-o-m in both Central and non-Central locations. Prime properties in the Central region, located in Districts 1 through 4 and 9 through 11, saw a 0.6 percent increase m-o-m in April, compared to a 0.4 percent increase in March, while properties in non-central areas saw a 1.6 percent increase m-o-m, up from a 0.1 percent increase in March.
Meanwhile, small property prices increased by 1% month on month, following a 0.1 percent decline in March. Small units are those with a floor area of 506 square feet or less, according to IREUS.
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