Resale prices of condos and apartments continued to cool in January: NUS index

High-rise condominium buildings in the Singapore city centre and outskirt. Resale prices of non-landed private homes in Singapore continued to cool in January 2015, according to flash estimates from the National University of Singapore for its Overal
High-rise condominium buildings in the Singapore city centre and outskirt. Resale prices of non-landed private homes in Singapore continued to cool in January 2015, according to flash estimates from the National University of Singapore for its Overall Singapore Residential Price Index, released on Monday. -- PHOTO: ST FILE

SINGAPORE - Resale prices of non-landed private homes in Singapore continued to cool in January 2015, according to flash estimates from the National University of Singapore (NUS) for its Overall Singapore Residential Price Index (SRPI), released on Monday.

The overall SRPI eased 1.6 per cent in January from the previous month.

The prices of shoebox apartments and condos continued to hold up better. These small units of not more than 506 square feet saw prices dip just 0.6 per cent in January from December, after edging up 0.5 per cent in December from the previous month.

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The sub-index for the Central Region (excluding small units of up to 506 square feet) fell 1.9 per cent month-on-month in January. The Central Region is defined as districts 1 to 4 (including the financial district and Sentosa Cove) and the traditional prime districts 9, 10 and 11.

The sub-index for Non-Central Region (again excluding the shoebox units) fell 1.4 per cent month-on-month in January.