Private non-landed housing prices up 0.4% m-o-m in March: NUS SRPI flash estimate
The overall Singapore Residential Price Index (SRPI) grew 0.4% m-o-m in March, based on flash estimates released on April 28 (Picture: Samuel Isaac Chua/The Edge Singapore)
Prices of private non-landed residential properties climbed in March, albeit at a slower pace compared to the month before, according to data published by the National University of Singapore (NUS) Institute of Real Estate and Urban Studies (IREUS).
Flash estimates of the overall Singapore Residential Price Index (SRPI), published by IREUS on April 28, indicate that condo prices grew by 0.4% m-o-m in March, easing from the 0.7% growth recorded in February. The SRPI tracks the month-on-month movement of private non-landed residential property prices in Singapore based on a basket of 867 completed condo developments.
The increase in prices comes despite a slight dip in transaction activity. Citing URA Realis data, IREUS notes that 871 non-landed private residential resale transactions were recorded in March 2026, down from 920 transactions in February.
Transaction activity
Non-landed housing prices grew last month in tandem with overall consumer prices. The Singapore consumer price index rose 0.5% m-o-m in March, according to data published by the Singapore Department of Statistics.
The SRPI sub-index for the Central Region (excluding small units) rose by 0.1% m-o-m last month, while the sub-index for the non-Central Region (excluding small units) increased by 0.5% m-o-m. The sub-index for small units, which IREUS defines as units measuring 506 sq ft and below, also increased, inching up 0.1% m-o-m in March.
Meanwhile, IREUS also published its revised figures for February. While the overall SRPI remained unchanged at a month growth of 0.7%, the sub-index for the Central Region was adjusted to 0.3% m-o-m growth, slightly higher than the flash estimate growth of 0.2%.
The sub-index for the non-Central Region was revised to an 0.8% increase m-o-m, marginally narrower than the 0.9% flash estimate, while the sub-index for small units was adjusted to 0.9% growth, up from the 0.7% previously estimated.
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