Prices of completed non-landed homes slipped 0.6% in May

Shoebox units led the decline.

Prices of completed non-landed private residential units registered a 0.6% drop in May, according to flash estimates of the National University of Singapore’s Residential Price Index.

The decline was led by a 1.3% slip in prices of shoebox units, or units smaller than 506 square feet.

Prices of homes in Central areas dipped by 1%, while prices of units in non-central areas remained fairly flat with just a 0.1% decline.

The SRPI is the index for the overall non-landed residential market in Singapore based on the whole SRPI property basket. Two sub-indexes are also produced for the Central and non-Central regions.

The Central region sub-basket comprises properties within the overall SRPI basket located in Postal Districts 1 through 4 and 9 through 11 while properties in the other postal districts are in the non-Central region sub-basket.

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