SINGAPORE, June 28 (Xinhua) -- Resale prices of Singapore's private homes dipped 0.8 percent in May on a month-on-month basis, according to flash estimates released by the National University of Singapore's Institute of Real Estate Studies (IRES) on Tuesday.
Singapore Residential Price Index (SRPI) showed overall prices fell 0.8 percent in May, in contrast to the 0.2 percent increase in April.
Resale prices of private homes in the central region, excluding small units, declined by 0.5 percent month-on-month. While in the non-central region, prices fell 1 percent.
As for small units, which have a floor area of up to 506 square feet, resale prices fell 1.1 percent in May compared to the previous month.
Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in public housing units built and sold by the government. The private homes are typically more expensive than public housing units.
