SINGAPORE (EDGEPROP) - The Singapore Residential Price Index (SRPI) increased by 1% m-o-m in July, easing slightly from the 1.2% m-o-m growth recorded in June, based on flash estimates released on Aug 29.

The SRPI, tracked by the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore (NUS), measures price movements of private non-landed residential properties in Singapore. Specifically, the index tracks a basket of 759 private residential projects that were completed between October 2003 and September 2021.

Prices for properties, excluding small units, in both Central and non-Central locations showed m-o-m increases. Prime properties in the Central region, located in Districts 1 through 4 and 9 through 11, logged a 1% growth m-o-m in July, lower than the 1.9% increase recorded in June. In contrast, properties in non-Central areas saw a 1.1% increase m-o-m, higher than the 0.8% growth logged the previous month.

Meanwhile, prices of small properties saw a 0.6% increase m-o-m in July, compared to the 0.1% 0.7% increase recorded in June. IREUS defines small units as having a floor area of 506 sq ft or below.