Completed condo prices dropped 0.8% in May

Prices of small units saw the largest drop.

Prices of completed non-landed residential homes dropped by 0.8% in May, according to the National University of Singapore (NUS) Singapore Residential Price Index (SRPI).

Prices of units in the central region—excluding properties smaller than 506 square feet—dropped by 0.5% during the month, compared to a 0.4% increase in April.

Meanwhile, prices of completed homes in non-central regions dropped by 1.0% in May, compared to an increase of 0.1% in April.

Prices of shoebox units dropped by 1.1%, extending the 0.1% drop in April.

The SRPI is a transactions-based index that tracks the month-on-month price movements of private non-landed residential properties in Singapore.