Resale condo prices continue to weaken

Romesh NavaratnarajahJune 30, 2015

Condo prices

Prices of completed non-landed residential properties in Singapore continued to fall in May 2015 as buyers held back their purchases due to the restrictive cooling measures and loan curbs, according to flash estimates of the NUS Singapore Residential Price Index (SRPI).

Across the island, prices dropped 0.6 percent last month, higher than the 0.3 percent decrease reported in April.

Excluding small units, prices of private apartments in the central region declined 1.0 percent in May, more than the 0.3 percent dip in the month before. But homes in the non-central region registered a smaller 0.1 percent slide after dropping 0.4 percent previously.

Meanwhile, prices of small units which have a floor area of 506 sq ft or below fell 1.3 percent after rising 0.4 percent in April.

The NUS price index for the central region tracks properties located in districts 1 to 4 and 9 to 11. Properties outside these districts fall under the non-central region.

 

May 2015 SRPI flash estimates

 Source: NUS Institute of Real Estate Studies.

 

Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg

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