Private condo prices crumble 0.6% in August: NUS index

This is after gaining momentum of 0.3% in the last month.

The city-state housing market is continually facing headwinds as prices of completed private apartments and condominiums contract 0.6% in August.

According to National University of Singapore's August 2016 flash estimate of Overall Singapore Residential Price Index (SRPI), the price contraction this month is in contrast from the 0.3% gain in July.

The figures show that the contraction is reflected across non-central and small units.

Price index for non-central units declined 0.9%, further deepening the 0.1% dip in July.

Meanwhile, after a flat growth in the previous month, index for small units inched down to 0.1%.

Central unit price index, while did not nosedive to the red, became flat in August, falling from 0.6% increase in the previous month.

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