August resale property prices up slightly

Resale prices of private homes inched up across the board last month, reversing the overall fall in July as buyers were lured by new project launches.

Prices picked up 1 per cent overall, according to flash figures from the Singapore Residential Price Index (SRPI) yesterday, after a 0.6 per cent overall fall in July.

The statistics are compiled by the National University of Singapore, and track a basket of completed non-landed projects.

Resale prices of non-central flats rose 1.5 per cent last month, the best performer for the month and a reversal of the 0.6 per cent drop recorded in July.

Central region home prices increased 0.5 per cent, rebounding from the 0.5 per cent fall the previous month. Prices of "shoebox" units - typically 500 sq ft and less - rose 0.8 per cent, the same increase recorded in July.

Source: The Straits Times – 29 September 2012