Prices of complete private apartments rose marginally by 0.3% in April from March based on flash estimates from NUS SRPI (Singapore Residential Price Index).
This is after a revised 1.1% drop from February to March. According to experts, the latest change could be due to a technical rebound. Indices for small units not exceeding 506 square feet, central and non-central region units did not rise above 0.5% from March.
Mr. Nicholas Mak, International Executive director research and consultancy, SLP said that if the two months are taken as a whole, still prices have not reached those of February. The market is still soft.
Central region led the April rise with unit prices rising by estimated 0.4% from March.
Small units and non-central region units experienced a price rise of 0.2%.
In comparison with last year, non-central and small units have a higher price decrease while price reduction for units in central region has slowed.
The past year saw prices of units in central region fall by 1.9% in comparison to a drop of 4.7% in the preceding year.
Units in non-central region had a price decline of 3.2% in the past year in comparison to 0.2% in the preceding year. Values for small units went down by 5.3% last year after a decline of 1.5% the previous year.
The base year for the SRPI is March 2009. Basing on this, the unit prices for the central region are 30.9 % higher, non-central region is 57.7 % higher while the price of small units is 62.8 % higher.
The overall SRPI has risen by 44.1% in comparison to March 2009.