A 0.1 per cent rise in resale prices of private condos in December, going by flash estimates of SRX Property, was dismissed by property consultants as a blip as demand appears muted this year.

The rise in resale prices from a month ago was driven mainly by transactions in suburban areas (Outside Central Region or OCR), which posted a price rebound of 0.5 per cent last month, after a sharp 2 per cent decline in November.

With the exception of this region, transactions in the city centre (Core Central Region or CCR) and city fringe (Rest of Central Region or RCR) registered price declines of 1.1 per cent and 1.2 per cent, respectively.