Completed private condo prices dropped 0.6% in August

Luxury units led the decline.

Prices of completed non-landed private homes booked a 0.6% month-on-month decline in August, a bigger drop compared to a contraction of 0.2% in July.

The latest National University of Singapore (NUS) Singapore Residential Price Index Series (SRPI) showed that prices of flats in the Central region dropped 0.7% in August, compared to a gain of 0.3% in July.

Meanwhile, prices of flats in non-central regions dropped by 0.5%. Prices of shoebox units, or those smaller than 506 square feet, were flat in August.

The SRPI is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore.
 

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