SINGAPORE (EDGEPROP) - The Singapore Residential Price Index (SRPI) inched up 0.4% m-o-m in August, easing from the 1.1% m-o-m growth recorded in July, based on flash estimates released on Sept 28.

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 the Central region saw a decrease of 0.6% m-o-m in August, reversing from the 1.1% growth recorded in July. Prices for properties excluding small units in the non-Central areas logged a 1% growth m-o-m in August, marginally lower than the 1.1% increase recorded the month before.

Meanwhile, prices of small properties saw no changes in August, following the 0.8% increase recorded in July. IREUS defines small units as having a floor area of 506 sq ft or below.