Resale prices of completed homes rose 0.9% in March

Resale prices of non-landed homes for March eked out a small rise of 0.9 per cent from the previous month, reversing February's 1.2 per cent fall, according to latest figures from the National University of Singapore (NUS).

The university's flash estimate for the Singapore Residential Price Index for March also showed that the price of apartments in the city recovered from February's 3.7 per cent drop. The latest data showed that city home prices rose by 2.2 per cent in March.

Resale prices of small apartments measuring 506 sq ft or less rose by 0.7 per cent after dipping 0.9 per cent in February.

Suburban apartments was the only category to see a drop in March - resale prices in that category slipped by a marginal 0.1 per cent after a 1 per cent rise the previous month.

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