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Prices of completed non-landed private homes down 0.3% in Feb: NUS index

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PRICES of completed non-landed private homes in Singapore dipped 0.3 per cent in February 2015 over January, according to the National University of Singapore (NUS) flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Monday.

PRICES of completed non-landed private homes in Singapore dipped 0.3 per cent in February 2015 over January, according to the National University of Singapore (NUS) flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Monday.

The sub-index for Central Region (excluding small units of up to 506 square feet) fell 0.7 per cent month-on-month in February.

Central Region is defined as districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime districts 9, 10 and 11 by the university's Institute of Real Estate Studies (IRES), which created the SRPI series tracking prices of completed private apartments and condos.

The sub-index for Non-Central Region (again excluding small units) remained unchanged last month.

Islandwide prices of small apartments and condo units (up to 506 sq ft) eased 0.2 per cent.

IRES also published the revised index values for January 2015, which showed the Overall SRPI falling 0.9 per cent month on month. This contrasts with the 1.6 per cent drop for January based on IRES's flash estimate released earlier.