Completed condo unit prices climb 0.6% in June

Led by a 0.7% uptick in central region prices.

June saw prices of completed condo units in Singapore climb 0.6%, according to the latest National University of Singapore's (NUS) Singapore Residential Price Index (SRPI).

Prices of completed condos in the central region grew by 0.7%, while prices of homes in non-central regions rose by a more marginal 0.4%.

Meanwhile, prices of small units, or those smaller than 506 square feet, inched up 0.2%.

Further, ERA comments that luxury properties have enjoyed greater demand from buyers in recent months, as purchasers look to invest for the longer term. Given the luxury market was depressed for some time, it has become more alluringly priced compared to other major cities.

ERA further shares that as the MAS has stated that the cooling measures will not be removed as yet, more buyers who had been on the sidelines can be expected to commit to a purchase should they chance upon an attractive buy.

“Real estate in Singapore, seen by many as safe haven assets, will continue to see healthy interest as investors search for ways to park their money. However, capital appreciation is expected to be limited in the short term as loan caps and the uncertain market outlook keep a lid on prices,” ERA posits.