Resale prices of Singapore private homes drop again, falling 0.7% in September

The Carribean at Keppel Bay on March 27, 2013. Private home resale prices slid further last month, primarily due to a decline in prices of city centre homes. -- ST FILE PHOTO: KEVIN LIM
The Carribean at Keppel Bay on March 27, 2013. Private home resale prices slid further last month, primarily due to a decline in prices of city centre homes. -- ST FILE PHOTO: KEVIN LIM

Private home resale prices slid further last month, primarily due to a decline in prices of city centre homes.

Overall resale prices dipped 0.7 per cent in September from August, according to the Singapore Residential Price Index on Monday.

This came on the heels of a 0.4 per cent dip in August from July.

Resale prices in the central region sank 1.7 per cent last month from the preceding month, picking up pace from their 0.8 per cent fall in August.

The price decline in the central areas outweighed a marginal rise in the resale prices of suburban private homes. Those inched up 0.1 per cent last month, reversing a 0.1 per cent dip in August from the preceding month.

Shoebox units fared worse, with prices dropping 1.9 per cent in September from August. Their prices had gone up 0.7 per cent from July to August.