Private non-landed housing prices increased 0.4% year on year in August

The Singapore Residential Price Index (SRPI) increased by 0.4% m-o-m in August decreasing from 1.1% m-o-m growth recorded in July, based on the flash estimates released on September 28.

Terra Hill condo floor plan is equivalent to a land rate of $1,355 psf ppr and $1,318 psf ppr, including a 7% bonus balcony area in the GFA

The SRPI which is monitored 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 the price of 759 residential developments which were completed between October 2003 until September 2021.

Prices for properties which do not contain smaller units within the Central region recorded a decline in the region of 0.6% m-o-m in August which was a reverse of that 1.1% growth recorded in July. Prices for properties that do not include small units in regions outside of Central recorded a 1% increase m-o-m during August slightly lower in comparison to what 1.1% increase recorded the month prior.

The prices of smaller properties did not change in August, despite that 0.8% increase recorded in July. IREUS defines small units as those with an area of 506 square feet or less.