The Singapore Residential Price Index (SRPI) increased by 1.2% m-o-m from the 0.2% growth in April

The Singapore Residential Price Index (SRPI) rose in 1.2% m-o-m in April based on estimates from flash published on May 30, increasing from the 0.2% growth logged in the month prior. The figures from April indicate an increase of 7.9% y-o-y increase.

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The SRPI is tracked by the Institute of Real Estate and Urban Studies (IREUS) located at NUS. National University of Singapore (NUS) tracks price changes of residential private properties within Singapore. The index is primarily based on 759 residential developments which were completed between October 2003 until September 2021.

Prices for properties that are not small units and small units, across each of the Central and non-Central regions saw m-o -m rises. In April, the most desirable properties located in Central region, including Districts 1 through 4 and 9 to 11, Central region, which is located between Districts 4 through 1 as well as 9-11, recorded an increase of 0.6% growth m-o-m compared to 0.4% increase in March and properties located outside the central areas experienced an 1.6% increase m-o-m, more over what 0.1% growth logged in March.

In addition, the prices of small properties experienced a one% increase in the month of March, a rebound in comparison to that 0.1% decline recorded in March. IREUS define small properties as having the floor area of 506 square feet or less.