Resale private homes prices down in September

Prices of resale private homes in Singapore dropped in September, according to Singapore Residential Price Index (SRPI) flash estimates released on Tuesday.

Compiled by the National University of Singapore (NUS)’s Institute of Real Estate Studies, the SRPI showed overall prices slid 0.7 percent in September from the preceding month. This is a reversal from the revised 0.2 percent increase posted in August.

Home prices in the central region, excluding small units, dropped 0.9 percent, while prices of homes in the non-central region, also excluding small units, declined 0.6 percent.

However, prices of small units, or those with floor areas of up to 506 sq ft marginally increased by 0.4 percent in September.

The Central region sub-basket includes properties located in districts 1 to 4 and 9, 10 and 11, while the non-Central region sub-basket covers properties located in the remaining districts.

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