Resale condo prices down 0.3% in February

With the improved buyer sentiment over the recent months, unsold home inventory in Singapore fell to a seven-year low...

Prices of completed condominium units decline further. 

Prices of completed non-landed private homes fell 0.3 percent in February 2017, compared to the revised 0.1 percent decline seen in January, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI).

Excluding small units, prices in the central region dropped one percent, reversing the 0.5 percent growth seen in January. The non-central region, on the other hand, saw prices increase 0.3 percent, an improvement from the 0.6 percent drop registered in the month before.

The central region sub-basket comprises properties situated in districts 1 to 4 and 9 to 11, while properties located in the other districts fall under the non-central region sub-basket.

Meanwhile, prices of small units measuring 506 sq ft or below fell 0.6 percent in February, after rising 0.1 percent in the previous month.

 

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