SINGAPORE (EDGEPROP) - The Singapore Residential Price Index (SRPI) increased by 1.2% m-o-m in April, based on flash estimates released on May 30, accelerating from the 0.2% growth logged in the previous month. The April figures represent a 7.9% y-o-y increase.

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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, in both Central and non-Central locations showed m-o-m increases. In April, prime properties in the Central region, located in Districts 1 through 4 and 9 through 11, logged a 0.6% growth m-o-m compared to the 0.4% increase in March while properties in non-central areas saw a 1.6% increase m-o-m, higher than the 0.1% growth logged in March.

Meanwhile, prices of small properties saw a 1% increase m-o-m, rebounding from the 0.1% decline recorded in March. IREUS defines small units as those with a floor area of 506 sq ft or below.