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Fifth straight month of price increases for completed private condos

By Angela Teo

/ EdgeProp |

November 3, 2017 2:55 PM SGT

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NUS announced on Oct 30 that overall private condominium and apartment prices rose 0.1% m-o-m in September, based on the latest flash values of the Singapore Residential Price Index Series. This marks the fifth straight month of increase in the overall SRPI, according to Nicholas Mak, executive director of ZACD Group.

The SRPI Central index saw the strongest growth since April 2017, rising 3.9% over the five-month period. This is due to the limited supply of newly launched private residential homes in the Central Region, which causes buyers to turn to the resale market, says Mak. In September, the Central index rose 0.4% m-o-m.

On the other hand, the SRPI Non-Central index saw a 2.1% increase over the same five-month period. The SRPI Small Units index rose just 0.3% over the fivemonth period, but registered the strongest growth for September alone, rising 0.9% m-o-m. Both the SRPI Non-Central and Small Units indices are going through a patchy recovery, notes Mak.

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