The non-landed private residential price index fell 0.7% in June, according to the NUS SRPI flash estimate

The Institute of Real Estate and Urban Studies (IREUS) has published The Singapore Residential Price Index (SRPI) for the month of June. According to estimates, the index overall decreased 0.7% m-o-m.

A sub-index of the Central Region (excluding small units) decreased to 1.2% m-o-m in June and the sub-index for the region that is not Central (excluding tiny units) declined to 0.4% over the same time period. The sub-index of small units fell to 0.6% for the period.

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The revised index overall for May was re-adjusted to reflect the 0.2% m-o-m increase, less than the estimate for flash that showed the index remained the same in June.

This sub-index of the Central Region (excluding small units) in May was exactly the same, with its estimate indicating an increase in the region of 0.8% m-o-m. For the other regions this sub-index has been adjusted in order to show the 0.7% increase, higher than the flash estimate of 0.4% increase m-o-m.

In addition, the sub-index of tiny units was tweaked in the month of December to account for an 1.4% m-o-m increase, above its forecast that was 0.9%.

The SRPI which is monitored by the Institute of Real Estate and Urban Studies (IREUS) located at NUS. National University of Singapore (NUS) is a measure of price fluctuations of private residential non-landed properties located in Singapore. The index is primarily based on 759 residential developments which were completed between the month of October 2003 between September 2021 and October 2003.

IREUS The report of IREUS for July SRPI data also examined the volume of resales for private residential properties divided into Singaporean, Singapore permanent residents (PRs) and foreign buyers.

Averagely, Singaporeans have bought 774% of non-landed houses on the resales market over the last twelve months. Singapore PRs bought 21% while foreigners purchased around 4% during the same time.

The month of June saw foreign purchasers made up for 14 condo units resold in Singapore, which is decreasing 61.1% m-o-m. The amount of residential private properties bought by Singapore PRs in the resale marketplace fell 20.6% m-o-m in June and for Singaporeans the figure was 24.2% m-o-m.