Resale prices of condos, private apartments slip 0.6% in August from July: NUS index

An NUS study has revealed that prices of condominiums and private apartments dropped 0.6 per cent in August from the previous month.
An NUS study has revealed that prices of condominiums and private apartments dropped 0.6 per cent in August from the previous month. ST PHOTO: MALCOLM MCLEOD

SINGAPORE - Prices of completed condominium units and private apartments dropped 0.6 per cent in August from the previous month, reversing a 0.3 per cent increase in July, according to a National University of Singapore study.

Prices of small units of up to 506 square feet slipped 0.1 per cent in August after staying flat in July, the Singapore Residential Price Index (SRPI) by NUS's Institute of Real Estate Studies also showed.

Excluding these shoebox units and going by location, prices of apartments and condos in the central region did not budge after rising 0.6 per cent month on month in July. The central region comprises districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11.

But prices of units outside these prime areas fell 0.9 per cent in August after a 0.1 per cent decline in July.