http://www.straitstimes.com/business...in-flat-in-dec

Private home prices remain flat in Dec

Feb 1, 2017

Ann Williams


Overall prices of completed private homes were unchanged in December from the previous month, after dipping 0.8 per cent in November.

This was according to the Singapore Residential Price Index (SRPI) flash estimates, released yesterday.

The SRPI is compiled by the National University of Singapore's Institute of Real Estate Studies.

Resale prices of homes in the central region, excluding small units, declined 0.6 per cent month on month, while those outside the prime districts edged up 0.4 per cent.

Resale prices of small units, which have a floor area of 506 sq ft or less, inched down 0.1 per cent, according to SRPI.

Mr Ong Kah Seng, director of property market research company R'ST Research, said the overall stagnant resale prices for December reflected the generally weak property sentiment, due both to the festive period and buyers expecting further price drops by developers for new projects for launch this year.

He said the marginal price fall or limited price changes seen for properties completed last year have - to a notable extent - been due to the trend in the last couple of years of more completed private homes being shrunken family-sized units or shoebox apartments. These, though smaller, have higher per sq ft prices.