Completed condo prices 0.6% higher in December than November: NUS index

A condominium located in Jellicoe Road, near Lavender MRT Station. PHOTO: ST FILE

SINGAPORE - Prices of completed private apartments and condos in Singapore rose 0.6 per cent in December compared to the previous month.

This is according to the National University of Singapore's (NUS) latest flash estimates for its Singapore Residential Price Index (SRPI) released on Monday (Jan 29).

The price increase eased from the 1.6 per cent rise seen in November, based on the revised index value for that month.

The sub-index for central region (excluding small units) rose 0.5 per cent in December, easing from the 1.8 per cent increase in November.

NUS's Institute of Real Estate Studies, which developed the SRPI series tracking prices of completed non-landed private homes, defines the central region as Districts 1 to 4 (including the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11.

In the non-central region (excluding small units), prices rose 0.7 per cent in December, less from the 1.4 per cent increase in November.

Prices for small units of up to 506 sq ft islandwide saw no change in December, after gaining 1.1 per cent in September.

Compared to a year ago, prices are up 5.5 per cent year on year in 2017, compared to a decline of 2.3 per cent in 2016.

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