After a 0.8% dip in resale condo prices in April, there has been a slight increase of 0.4% in May with properties in the central region leading the growth, as reported by the NUS Singapore Residential Price Index (SPRI).
The value of private non-landed resale homes in the central region rose by 1.3% but those in the non-central region dropped by 0.3%. This data covers units larger than 506 sq ft.
For small units, there was a decline of 1.3% in resale condo prices following a 0.6% rise going into April from March.
According to analysts, the SRPI has been within range in the previous months and this shows that the resale market seems to be stable. While it looks dismal for resale condo prices of small units, Dr Lee Nai Jia, head of research at Edmund Tie & Co, anticipates that overall resale prices will increase by 0.5% to 1% in the second half of the year, and by up to 3% next year.
Read more on this at Straits Times