Resale prices for city homes lead drop of resale price index for February

Resale prices of non-landed homes for the month of February have dipped 1.4 per cent, reversing January's 0.8 per cent increase, according to latest figures from the National University of Singapore (NUS).

The university's February flash estimate for the Singapore Residential Price Index showed that the price drop was led by the 3.7 per cent resale price fall of apartments in the city. This comes after resale prices for homes in that category rose 1.1 per cent last month.

Resale prices of small apartments measuring 506 sq ft or less fell by a marginal 0.1 per cent, after rising 3.3 per cent in January.

Suburban apartments was the only category to see any improvement in February. - resale prices in that category climbed a further 0.5 per cent after a modest 0.6 per cent rise the previous month.

SRPI is a monthly index compiled by NUS's Institute of Real Estate Studies (IRES). It tracks prices of completed non-landed private homes but excludes executive condos.