Non-landed private residential price index stays flat in January: NUS SRPI flash estimate
/ EdgeProp Singapore |
The overall Singapore Residential Price Index (SRPI) registered no changes between December 2022 to January, based on flash estimates released on Feb 28 (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) The Institute of Real Estate and Urban Studies (IREUS) has released the Singapore Residential Price Index (SRPI) for the month of January. Flash estimates indicate the overall index stayed flat, with no changes from the previous month.
The sub-index for the Central Region (excluding small units) increased by 0.6% m-o-m in January, while the sub-index for the non-Central Region (excluding small units) decreased by 0.3% over the same period. The sub-index for small units decreased by 0.5% for the period.
The revised overall index for December 2022 was adjusted to reflect a 0.7% m-o-m increase, slightly higher than the flash estimate of 0.5%.
The revised sub-index for the Central Region (excluding small units) was adjusted to reflect a 0.3% increase m-o-m in December 2022, higher than its flash estimate of a 0.1% increase. For the non-Central Region, the sub-index was adjusted to reflect a 0.9% increase, higher than its flash estimate of a 0.7% increase.
Meanwhile, the sub-index of small units in December 2022 was adjusted to reflect a 1.4% m-o-m increase, higher than its flash estimate of 0.9%.
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.
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