Prices of residential properties fall 0.6% m-o-m in April: NUS

By EdgeProp Singapore
/ EdgeProp Singapore |
May 28, 2020 6:30 PM SGT
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - The National University of Singapore’s Singapore Residential Price Index Series (NUS SRPI) reveals that the main index, SRPI Overall fell 0.6% m-o-m in April 2020.
On a y-o-y basis, SRPI Overall fell 1.2%, according to Nicholas Mak, head of research & consultancy at ERA Realty.
The SRPI data shows that property prices have declined between 0.3 and 1.2% m-o-m for all units in April except for small units (defined as floor area of 506 sq ft or less). The price index for small units increased 1% m-o-m.
Advertisement

April 2020 Flash SRPI Values

NUS SRPI Basket as at December 2019
Index Value (Mar 2009= 100)
Month-on-month change
NUS SRPI Overall
150.9
-0.6%
NUS SRPI Central (excluding small units)
137.1
-1.2%
NUS SRPI Non-Central (excluding small units)
164.5
-0.3%
NUS SRPI Small
167.4
1.0%
Source: NUS SRPI (Reflective of transactions received as at 21 May 2020)
Mak says: “Private residential resale activities slowed down drastically in April 2020 due to the partial lockdown to contain the spread of Covid-19. Based on residential caveats, the number of secondary market caveats in April was about the half of the volume in March 2020.”
The rate of decline of the SRPI in April is slower than in March. This could be due to fewer units transacted in April. The biggest decline in April was detected in SRPI Central region, excluding small units.
Looking ahead, Mak believes that the Central region could suffer a bigger decline as many foreign buyers are restricted from visiting Singapore to view the properties.
Mak says that as the “circuit breaker” continues, the SRPI is likely to continue decreasing in May. The overall SRPI could decline by 5% to 8% y-o-y for the whole of this year, which would be the fastest rate of decline since 2014, he adds.

March 2020 Revised SRPI Values

NUS SRPI Basket as at December 2019
Index Value (Mar 2009= 100)
Month-on-month change
NUS SRPI Overall
151.7
-0.9%
NUS SRPI Central (excluding small units)
138.8
-1.3%
NUS SRPI Non-Central (excluding small units)
164.9
-0.6%
NUS SRPI Small
165.8
-0.1%
Source: SRPI (Reflective of transactions received as at 21 May 2020)
Read also:
Tags:
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Related Articles

Private non-landed housing prices decline 0.7% in October: NUS SRPI flash estimate - EDGEPROP SINGAPORE
Property News
Private non-landed housing prices decline 0.7% in October: NUS SRPI flash estimate
The realtor with an edge - EDGEPROP SINGAPORE
Special Features
The realtor with an edge
One-bedroom duplex penthouse at Spottiswoode 18 for sale at $1.55 mil - EDGEPROP SINGAPORE
Property News
One-bedroom duplex penthouse at Spottiswoode 18 for sale at $1.55 mil
Top Articles
1
Revolutionising the workplace through hybrid work solutions
2
Realtor-author Ceekay Soh offers a smorgasbord of real estate advice in debut book
3
Nursing home on Sims Avenue for sale at $27 mil
4
Savills launches energy and sustainability management department
5
Savills sees dip in FY2022 profit, expects 'more positive conditions' for real estate in 2024
Search Articles
Follow Us On
Our Sites
Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Web Version 3.0.3
Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.
On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.