Property prices in singapore expected to remain flat this year

The privately owned property market in Singapore saw prices remain largely flat in July compared with the previous month, according to the latest NUS Singapore Residential Price Index (SRPI).

The index gained just 0.2% overall from June and analysts said it is mainly due to global uncertainty over the slowing of the United States economy and the eurozone debt crisis.

Colin Tan, head of Research and Consultancy for Chesterton Suntec International, said that as long as this uncertainty persists, private home resale prices would likely remain flat over the next month or so.

Excluding small units with a floor area of 506 square feet or below, the index for properties in the central area was down 1.3%, while non central properties showed a 1.2% increase. The index for small units was up 1.4% from June.

Source: Property Wire