Home prices in Central region slip 1.3%

Overall price index also dipped.

According to the National University of Singapore's Singapore Residential Price Index, the SRPI overall fell 0.3%. Home prices in Non-Central region went up 0.5% while those in the Central region slipped 1.3%. Prices of small units stood pat at an index value of 175.5.

The National University of Singapore (NUS) Singapore Residential Price Index Series (SRPI) is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore.

Developed by a team of researchers at IRES, the SRPI provides a resource for the development of property derivatives that would help to expand the suite of financial products offered in Singapore, particularly in the context of obtaining exposure to and managing risks associated with the real estate market. It will also complement existing property information on the state of the residential market.