Resale prices of Singapore private condos and apartments edge up 0.2% in March: NUS SRPI

SINGAPORE - Resale prices of non-landed homes in Singapore crept up 0.2 per cent in March from February, flash estimates from the Singapore Residential Price Index (SRPI) on Tuesday showed.

This was a turnaround from the dip of 0.2 per cent registered in February. Earlier estimates had indicated a marginally bigger 0.3 per cent drop in February prices.

Prices of private apartments in the city centre inched up by 0.1 per cent, after shedding 0.7 per cent in January. Prices of suburban units rose by 0.3 per cent in March, the same increase seen the previous month.

Prices of shoebox units - defined as those with floor areas of up to 506 sq feet - lost 0.4 per cent in February after a 0.1 per cent improvement from January.

The index, compiled by the National University of Singapore, tracks a basket of completed homes across the island.