Prices of completed private apartments rise

Hampton Court, a private apartment located at No 2 Draycott Park.
Hampton Court, a private apartment located at No 2 Draycott Park. PHOTO: ST FILE

Prices of completed private apartments in Singapore rose an estimated 0.6 per cent last month from May - the largest rise in over three years.

The last time that prices rose so much in a month was in April 2013, when they increased 1.9 per cent, according to the NUS Singapore Residential Price Index (SRPI).

However, last month's price change came on the back of a 0.9 per cent fall in May. While buyers increasingly appreciate the value proposition of resale properties - their prices having fallen to more affordable levels - there are certainly still headwinds in this market, said Mr Ong Kah Seng, R'ST Research director.

The various SRPI indices notched up gains last month.

Prices of completed private apartments in the central region rose 0.7 per cent, those in the non-central region put on 0.4 per cent, while prices of small units of up to 506 sq ft inched up 0.2 per cent.

Rennie Whang

A version of this article appeared in the print edition of The Straits Times on July 29, 2016, with the headline 'Prices of completed private apartments rise'. Print Edition | Subscribe