Apartment buildings in the Orchard Road area.
Prices of completed non-landed private homes in Singapore fell by 0.8 percent in May 2016, compared to a 0.2 percent increase in the previous month, flash estimates of the NUS Singapore Residential Price Index (SRPI) showed.
Excluding small units, prices in the central region dropped by 0.5 percent last month, after rising by 0.4 percent in April. In the non-central region, prices fell by one percent, following a 0.1 percent hike previously.
The central region sub-basket comprises properties located in postal districts 1 to 4 and 9 to 11, while properties in the other postal districts fall under the non-central region sub-basket.
Meanwhile, prices of small units measuring 506 sq ft or below saw the biggest drop of 1.1 percent, after declining by 0.1 percent in April.
Source: NUS Institute of Real Estate Studies
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
