Private-home resale prices dip 1%

WHILE market watchers concur that private-home resale prices in Singapore will likely continue to decline at a gradual pace, buyers and investors are starting to hunt for value.

According to flash estimates from the Singapore Residential Price Index (SRPI) released on Thursday, resale prices of private homes fell one per cent in March, reversing a marginal increase of 0.4 per cent a month earlier.

Homes in the non-central region (excluding small units) led the price decline, falling 1.4 per cent from the previous month. In the central region, prices of homes (excluding small units) fell 0.5 per cent. This reversed gains of 0.4 per cent for homes in the non-central region (excluding small units) and 0.7 per cent for homes in the central region (excluding small units) seen in February.