Following a decline of 0.5 percent in November 2013, overall prices of resale non-landed private houses dropped further to 0.7 percent in December, according to the NUS Singapore Residential Price Index (SRPI).
In particular, resale homes in OCR (outside central region) saw the largest dip of 0.9 percent after a 0.1 percent drop in November, while those in the central region fell at a slower pace to 0.3 percent from 0.9 percent.
Notably, the central region comprises the traditional prime districts 9, 10 and 11, as well as districts 1 to 4, including Sentosa Cove and the financial district.
In addition, resale prices for small residential properties slid further to 0.6 percent in December after a 0.5 percent decline in November 2013, as revealed by the index.
Developed by the Institute of Real Estate Studies (IRES) at NUS, the SRPI is a transactions-based index that monitors the monthly price movements of private non-landed homes in the republic. Specifically, it tracks the prices of completed private apartments and condos, excluding executive condos.
Christopher Chitty, Senior Content Producer at PropertyGuru edited this story. To contact him about this or other stories, email christopher@propertyguru.com.sg
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