SINGAPORE - Resale prices of private homes increased by 1.5 per cent last month, continuing a trend which has been going on for the past few months.

According to the Singapore Residential Price Index, prices of homes islandwide have increased overall, with the prices of mass market homes up by 2.2 per cent.

The report produced by the National University of Singapore's Institute of Real Estate Studies also showed that the prices of luxury homes went up by 0.8 per cent.

While the prices of shoebox units declined 0.8 per cent in April, they rose back by 0.9 per cent in May.

ljessica@sph.com.sg