Singapore condo prices recover in May

Overall prices of non-landed private homes here rose 0.4 percent in May on a monthly basis, reversing the 0.8 percent decline in the April, revealed flash estimates of the NUS Singapore Residential Price Index (SRPI).

Excluding small units, prices in the central region increased by 1.3 percent, an improvement from the 0.4 percent dip in the previous month. On the other hand, the non-central region posted a drop of 0.3 percent compared to a larger slide of 1.0 percent in April.

The central region sub-basket comprises properties situated in postal districts 1 to 4 and 9 to 11, while non-landed private homes located in the other postal districts fall under the non-central region sub-basket.

Meanwhile, prices for small units measuring 506 sq ft or below fell by 1.3 percent in May after witnessing a positive growth of 0.6 percent in the preceding month.