Private resale home prices down 1%

With developers launching more new units in the market, resale prices of private homes slid further in April, according to the Singapore Residential Price Index (SRPI) published yesterday.

On a monthly basis, overall prices dipped by one percent in April compared to the 1.4 percent drop in the previous month, revealed the index compiled by the National University of Singapore (NUS)’s Institute of Real Estate Studies (IRES).

The suburban region saw the biggest decline of two percent, while resale prices in the central region remained flat. In March, resale prices in the suburbs and central region fell 1.1 percent and 1.8 percent respectively.

As for small units, or properties measuring up to 506 sq ft, resale prices declined by 0.6 percent versus the 0.2 percent dip in March.

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