Singapore resale prices of condos and apartments drop 0.6% in August

Aerial view of private residences and HDB flats near Tree House condominium on Aug 13, 2014.
Aerial view of private residences and HDB flats near Tree House condominium on Aug 13, 2014.ST PHOTO: LIM YAOHUI

SINGAPORE - Resale prices of completed condominiums and apartments in Singapore declined 0.6 per cent in August from a month earlier, according to Singapore Residential Price Index (SRPI) estimates released on Monday (Sept 28).

The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed that prices in July dipped 0.2 per cent, revised from being unchanged in its earlier estimate.

In terms of location, prices of homes in the central region, excluding small units, fell the most, dropping 0.7 per cent from the previous month. In July, they rose 0.3 per cent over June. In the non-central region, the price drop was 0.5 per cent, after a 0.7 per cent fall in July.

Prices of shoebox units, which are up to 506 sq ft in floor area, stayed unchanged in August, after rising 0.5 per cent month-on-month in July.