Prices of private residential properties fell marginally in December on a monthly basis, according to the index compiled by the Institute of Real Estate Studies at the National University of Singapore (NUS).
Based on flash estimates for the Singapore Residential Price Index (SRPI), prices across the city-state receded by 1.2 percent last month, higher than the 0.4 percent drop registered in November.
Specifically, the Central Region suffered the largest decline of 1.7 percent, eclipsing the 0.5 percent fall in the preceding month, while that in the Non-Central Region decreased by 0.8 percent in December from a previous dip of 0.2 percent.
The Central Region comprises Postal Districts 1 to 4 and 9 to 11, while the Non-Central Region covers other postal districts. The statistics for both regions exclude small units.
As for small units with a maximum size of 506 sq ft, prices of such properties throughout Singapore increased by 0.5 percent in December, reversing the two percent drop in the preceding month.
The flash estimates for the index was based on transactions tallied as of 20 January 2015.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
