Prices of small apartments in Singapore fall 1.9 per cent in November: NUS index

PRICES of completed non-landed private homes in Singapore dipped 0.3 per cent in November over October based on flash estimates from the National University of Singapore 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 0.5 per cent month on month in November. 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 (excluding small units) was flat last month.

Prices of small apartments and condo units (up to 506 sq ft) islandwide slipped 1.9 per cent.

IRES also published the revised index values for October, which show the Overall SPRI increasing 0.4 per cent month on month. The Central Region sub-index rose 0.5 per cent while that for the Non-Central Region edged up 0.4 per cent. The small unit index inched up 0.1 per cent.