The Singapore Residential Price Index (SRPI) declined 0.7% m-o-m in October, based on flash estimates released on Dec 1 (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - The Singapore Residential Price Index (SRPI) declined 0.7% m-o-m in October, based on flash estimates released on Dec 1. This is a reversal from the 0.6% m-o-m growth logged in September.
The SRPI, tracked by the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore (NUS), measures price movements of private non-landed residential properties in Singapore. Specifically, the index tracks a basket of 759 private residential projects that were completed between October 2003 and September 2021.
Prices for properties excluding small units — defined as those with a floor area of 506 sq ft or below — in the Central region saw a decrease of 0.8% m-o-m in October, growing from the 0.4% decline recorded in September. Prices for properties excluding small units in the non-Central areas registered a 0.6% fall m-o-m in October, swinging from a 1.2% increase recorded the month before.
Meanwhile, prices of small units fell 0.6% in October. This follows a 0.8% increase recorded in September.