By Wong Siew Ying | POSTED: 28 May 2013 9:14 PM | CNA

SINGAPORE: Resale prices of private homes in Singapore rose at a faster rate of 1.9 per cent in April, compared to the previous month’s 1.1 per cent price increase.

The Singapore Residential Price Index (SRPI) flash estimates were published by the Institute of Real Estate Studies at the National University of Singapore on Tuesday.

The price increase was led by private homes outside the central region, which rose 2.4 per cent in April, reversing the 0.2 per cent drop in March.

Prices of small units, defined as 506 square feet and below, also trended upwards from 0.8 per cent in March to 1.8 per cent last month.

Meanwhile, resale homes in the central region bucked the trend as price growth moderated.

The SRPI for homes in the central area rose 1.3 per cent in April, down from the 2.8 per cent increase seen in March.

– CNA/al

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