Resale prices of completed condos, apartments in Singapore down 1% in March

RESALE prices of completed condominium units and apartments in Singapore fell one per cent in March, compared with the previous month.

This followed a 0.5 per cent price increase in February.

The latest figure was based on the flash estimates from the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI) series, reflective of transactions tracked within a basket of units as at April 21.

March's price decline was across all subsectors.

Prices in the non-central region fell 1.4 per cent per cent, while prices of homes in the central region - defined as districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11 - fell 0.5 per cent.

This was a reversal from February when prices had inched up 0.4 per cent and 0.7 per cent respectively.

Prices of small units of up to 506 square feet also fell one per cent in March.