Prices of shoebox apartments and condos eke out 0.5% rise in December: NUS index

Shoebox apartments at Kovan Grandeur. -- ST PHOTO: NEO XIAOBIN
Shoebox apartments at Kovan Grandeur. -- ST PHOTO: NEO XIAOBIN

SINGAPORE - The prices of shoebox private homes in Singapore rose 0.5 per cent last month, after they dipped 2 per cent in November, according to flash estimates from the National University of Singapore (NUS) for its Overall Singapore Residential Price Index (SRPI).

The monthly SRPI has the only sub-index tracking just the performance of such small apartments and condominium units of up to 506 square feet or 47 square metres.

Overall, the SRPI showed that prices of completed non-landed private homes in Singapore fell 1.2 per cent in December over November.

The sub-index for the Central Region (excluding shoebox units) fell 1.7 per cent month-on-month in December.

The Central Region is defined as districts 1-4, including the financial district and Sentosa Cove, and the traditional prime districts 9, 10 and 11.

The sub-index for the Non-Central Region (excluding shoebox units) fell 0.8 per cent last month.

The revised index values for November also show the overall SPRI falling 0.4 per cent month-on-month.

ann@sph.com.sg