Wednesday, May 30, 2012

NUS small apartment sub-index dips in April


Business Times: Tue, May 29
[SINGAPORE] The tide may be turning for shoebox apartments, even as the prices of private resale homes continue to inch upwards in April.

According to the NUS Singapore Residential Price Index (SRPI), prices of small apartments (up to 506 sq ft) lost the most ground in April; the sub-index registered an islandwide drop of 1.2 per cent month-on-month according to flash estimates released yesterday.

The overall SRPI for April increased 0.8 per cent month- on-month.

In March, the SRPI sub-index for small apartments posted the strongest price gains across all the categories, rising 2.7 per cent.

Earlier this month National Development Minister Khaw Boon Wan noted that shoe-box units (defined as units of less than 700 sq ft) continue to be a cause of concern...
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Martin Koh/ Sherry Tang
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