Prices of completed small condo units dip 1.2% in Nov: NUS index

PRICES of completed small condo units and apartments (up to 506 sq ft) islandwide slipped 1.2 per cent in November over October, based on the lastest flash estimates from the National University of Singapore for its Singapore Residential Price Index (SRPI) series.

In October, the SRPI for small units islandwide dipped 0.4 per cent month on month based on the revised index values for that month.

SRPI for Central Region (excluding small units) eased 0.8 per cent month on month in November, contrasting with a 0.5 per cent increase for October.

Central Region is defined as Districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11 by the NUS' Institute of Real Estate Studies, which minted the SRPI series tracking prices of completed non-landed private homes.

Prices in Non-Central Region (again excluding small units) retreated 0.4 per cent last month after easing 0.3 per cent in October.

The Overall SPRI shed 0.6 per cent in November; in October it had inched up 0.1 per cent.