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Resale prices of private homes slip in July: SRPI

Overall prices fell 0.3 per cent on-quarter in July, with prices of small unit homes leading the decline, according to the Singapore Residential Price Index (SRPI) estimates.

SINGAPORE: Resale prices of private homes slipped lower in July according to Singapore Residential Price Index (SRPI) estimates, which were released on Thursday (Aug 28).

The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices fell 0.3 per cent in July from the previous month. In June, prices fell 0.5 per cent from a month earlier.

Prices of small unit homes led the decline, with a 0.8 per cent fall in July from the previous month. A small unit has a floor area of 506 square feet or below.

Prices of homes in the central region, excluding small units, declined 0.7 per cent on-month. However, home prices in the non-central region edged-up 0.1 per cent in July from June. These figures exclude prices of small units in the non-central region.