Resale prices of completed private homes in Singapore up 0.4% in February

RESALE prices of completed condominium units and apartments in Singapore rose 0.4 per cent in February, compared to the previous month.

In January, the index was up 0.2 per cent compared to December.

The latest figure was based on the flash estimates from the National University of Singapore (NUS) for its Singapore Residential Price Index (SRPI) series, reflective of transactions tracked within a basket of units as at March 21.

The increase was driven by prices of homes in the central region - defined as districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime residential districts of 9, 10 and 11. Prices here rose 0.5 per cent in February.

Prices in the non-central region rose a milder 0.3 per cent in February, while prices of small units of up to 506 square feet fell 1.1 per cent.