Condo resale prices rise 1.8% in June, led by homes in prime districts

Resale prices of non-landed private homes in Singapore rose 1.8 per cent last month, after dipping 1 per cent in May.

Leading the increase were homes in the core central region, where prices climbed 5.5 per cent, according to the Singapore Real Estate Exchange Property Index released on Friday. This region comprises Districts 9 to 11 - covering Orchard, Newton, Bukit Timah - as well as Sentosa and the downtown areas near the Central Business District.

Non-landed private homes in the city-fringe areas also saw price increases, but at a slower rate of 0.5 per cent, the index showed.

But resale homes in the suburban areas, where new developments have been launched at record prices, changed hands at lower prices in June. Prices of homes outside the central region dipped 0.2 per cent last month, according to the index.

The number of resale non-landed homes transacted in June also fell to 605 units, a drop of 21 per cent from May and 38 per cent less than in June last year.

Meanwhile, overall rental prices for non-landed homes slipped 0.2 per cent in June from May, the index showed. This marks the fifth straight monthly drop in rentals.

Rents in the core central region fell the most, by 1.6 per cent, while rents in the city-fringe areas and suburban districts rose by 0.4 per cent and 0.5 per cent respectively.