Residential

SRPI for completed small units fell by 4.4% in Nov 14 The National University of Singapore’s Singapore Residential Price Index (SPRI) for units smaller than 506 sqft has fallen by 4.4 percent in November 2014 from December 2013. In November 2014, the price index for small units showed a 1.9 percent drop from the previous month, this was the biggest month-on-month fall this year. About 3.9 percent of the 78,877 completed non-landed private homes that are accounted for in the SRPI’s basket are made up of units smaller than 506 sq ft. 429 private residential projects from October 2003 and September 2013 are also accounted for in the SRPI basket. Market experts believe that the weak price index for small units will continue. This is because by end-2015, the number of shoebox units would stand at 11,000 units, up from the 2,400 units in 2011. ...