Resale home prices rise at faster pace of 1.9 per cent in April

Prices of resale homes in Singapore rose at a faster pace last month, as buyers returned to the property market after being spooked by cooling measures earlier this year.

Prices of resale homes climbed 1.9 per cent in April over March, picking up speed from March's 1.1 per cent increase over February, according to the latest Singapore Residential Price Index (SRPI) released on Tuesday by the National University of Singapore.

The SRPI showed that properties outside the central region led the gains last month. Prices jumped 2.4 per cent in April from March, reversing the 0.2 per cent fall in the previous month.

Small units of 506 sq ft or less in size also climbed in price at a faster rate: 1.8 per cent in April, up from 0.8 per cent in March.

The prices of centrally-located homes, however, rose less quickly last month. They went up 1.3 per cent in April, compared to a 2.8 per cent increase in March.