Prices of completed non-landed private homes in Singapore up 0.1% m-o-m in Oct: NUS

PRICES of completed non-landed private homes in Singapore edged up 0.1 per cent in October 2015 over the preceding month, according to the National University of Singapore (NUS) flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Monday.

This follows a 0.3 per cent month-on-month rise in September, based on the revised index value for that month.

The sub-index for Central Region (excluding small units of up to 506 square feet) posted a 0.3 per cent m-o-m gain in October; this contrasts with September's 0.3 per cent drop.

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) was unchanged in October, after climbing 0.6 per cent in September.

Islandwide prices of small apartments and condo units (up to 506 square feet) fell 0.6 per cent in October, following a drop of 0.7 per cent in September.