Resale prices of non-landed private homes rose by a surprise 1.5 per cent in August, the latest report from Singapore Real Estate Exchange (SRX) showed on Friday. The increase comes after a 0.5 per cent drop in July.

The price rise could be due to the sluggish resale volume. An estimated 540 units were sold in August, more than 50 per cent lower than the 1,240 units transacted in August 2012.

Prices gains were seen in all three regions. Rest of Central Region gained 2.4 per cent while the core central region saw a 1.8 per cent increase. Outside central region prices also inched up by 0.2 per cent.

Overall rental prices for non-landed private homes in August slipped by 0.1 per cent compared with July.