Private home prices in Singapore dropped by 0.6 percent quarter-on-quarter in the March quarter of 2019, after a 0.1 percent fall in the previous period, the preliminary estimate showed. It was the second straight quarterly decline in private home prices and marking the biggest decline since 2016, amid efforts from government to impose additional property curbs. Prices of non-landed properties decreased 1 percent, following a 0.5 percent rise in the prior period. Among this category, prices fell for both core central region (-2.9 percent vs -1.0 percent) and central region (-0.2 percent vs 1.8 percent) while those of outside central region were flat (vs 0.7 percent). Meantime, prices of landed property increased by 1.1 percent, following a 2 percent fall in the fourth quarter. Housing Index in Singapore averaged 78.33 Index Points from 1975 until 2019, reaching an all time high of 154.60 Index Points in the third quarter of 2013 and a record low of 8.90 Index Points in the first quarter of 1975.
Housing Index in Singapore is expected to be 151.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Singapore to stand at 153.00 in 12 months time. In the long-term, the Singapore Residential Property Price Index is projected to trend around 166.00 Index Points in 2020, according to our econometric models.