SINGAPORE - Private home resale prices continued to weaken in April as more new launches lured home buyers away from the resale market.
Homes in the suburban region were the worst hit, according to Singapore Residential Price Index estimates out on Wednesday.
Overall resale prices fell 1 per cent islandwide last month from the month before, on the heels of a 1.4 per cent drop in March from February.
The suburban region bore the brunt, posting a 2 per cent decline in April from the preceding month.
This was an even sharper drop than the 1.1 per cent slide in March from February.
Prices in the central region, however, stayed flat from March to April, after falling 1.8 per cent from February to March.
The figures exclude small units of up to 506 sq ft, which saw their resale prices dip 0.6 per cent last month from the month before. Their prices decreased 0.2 per cent from February to March.
The index is compiled every month by the National University of Singapore.