Growth rate of resale condo prices doubled in March

Prices of resale condos grew by 1.0 percent in March 2018.

UPDATED: The growth in resale condominium prices rose by two-fold in March on a monthly basis, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI).

Overall prices of completed non-landed private homes grew by 1.0 percent in March, double the revised 0.5 percent uptick seen in the preceding month.

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Excluding small units, the non-central region posted the highest monthly increase of 1.6 percent compared to a marginal gain of 0.1 percent in February, while the central region recorded a modest growth of 0.1 percent from 1.1 percent previously.

Meanwhile, prices of small units measuring 506 sq ft or below rose 0.9 percent in March, slower than 1.1 percent increase during the month before.

The central region sub-basket comprises properties found in postal districts 1 to 4 and 9 to 11. Properties located in the other postal districts fall under the non-central region sub-basket.

The flash estimates for March were based on transactions received as of 23 April.

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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

This post was originally posted on Property Guru Property Market News Section