Condo prices continue to slide in December

NO LET-UP: Prices of condos, like these in the east coast, have declined for a fifth straight month, according to flash estimates.


    Jan 29, 2014

    Condo prices continue to slide in December

    PRICES of completed non-landed private homes have posted their fifth straight month-on-month drop, according to the latest flash estimates of the overall Singapore Residential Price Index (SRPI) released by the National University of Singapore yesterday.

    The flash estimate for December shows a 0.7 per cent drop over the previous month, while the revised November index reflects a 0.5 per cent month-on-month decrease.

    The SRPI for small apartments of up to 506 sq ft islandwide fell 0.6 per cent month on month in December, after slipping 0.5 per cent in November.

    Excluding small units, the SRPI for the Central Region eased 0.3 per cent in December, after decreasing 0.9 per cent in November.

    The university's Institute of Real Estate Studies, which mints the SRPI series, defines the Central Region as districts 1-4 (including the financial district and Sentosa Cove) and the traditional prime districts 9, 10 and 11.

    In the Non-Central Region, again excluding small units, prices posted a fall of 0.9 per cent in December, after easing 0.1 per cent in November.

    The SRPI series tracks prices of completed private apartments and condos (excluding executive condos).