Private home prices in Singapore advanced by 1.4% quarter-on-quarter in Q1 of 2024, compared to a 1.5% rise in the preliminary estimates and following the strongest growth in three quarters of 2.8% in the previous period. It marked the third straight quarter of increase in private home prices, even as high-interest rates and government cooling measures hurt demand. There was a marked slowdown in landed property prices (2.6% vs 4.6% in Q4). Also, the cost of non-landed property eased (1.0% vs 2.3%), due to moderating in Outside Central Region/OCR prices (0.2% vs 4.5% in Q4) and Core Central Region/CCR (3.4% vs 3.9%). In 2023, private housing prices increased by 6.8%, easing from an 8.6% gain in the previous year while marking the second consecutive year of slowing in price momentum. source: Urban Redevelopment Authority

House Price Index MoM in Singapore decreased to 1.40 percent in the first quarter of 2024 from 2.80 percent in the fourth quarter of 2023. House Price Index MoM in Singapore averaged 1.74 percent from 1975 until 2024, reaching an all time high of 27.60 percent in the first quarter of 1981 and a record low of -14.10 percent in the first quarter of 2009. This page includes a chart with historical data for Singapore Residential Property Price Index MoM. Singapore Residential Property Price Index MoM - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

House Price Index MoM in Singapore decreased to 1.40 percent in the first quarter of 2024 from 2.80 percent in the fourth quarter of 2023. House Price Index MoM in Singapore is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Residential Property Price Index MoM is projected to trend around 0.30 percent in 2025 and 0.90 percent in 2026, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-04-01 01:00 AM URA Property Index QoQ Prel Q1 1.5% 2.8% 0.9%
2024-04-26 01:20 AM URA Property Index QoQ Final Q1 1.4% 2.8% 1.5% 1.5%
2024-07-03 12:30 AM URA Property Index QoQ Prel Q2 1.4%


Related Last Previous Unit Reference
Home Ownership Rate 89.30 88.90 percent Dec 2022
URA Property Index 1.40 2.80 percent Mar 2024
Housing Index 204.50 201.50 points Mar 2024
New Home Sales 718.00 149.00 Units Mar 2024
Residential Property Prices 6.84 4.37 Percent Dec 2023

Singapore Residential Property Price Index MoM
In Singapore, Housing Index is measured by all residential property price index.
Actual Previous Highest Lowest Dates Unit Frequency
1.40 2.80 27.60 -14.10 1975 - 2024 percent Quarterly
NSA 2009Q1=100

News Stream
Singapore Q1 Private Home Prices Revised Slightly Lower
Private home prices in Singapore advanced by 1.4% quarter-on-quarter in Q1 of 2024, compared to a 1.5% rise in the preliminary estimates and following the strongest growth in three quarters of 2.8% in the previous period. It marked the third straight quarter of increase in private home prices, even as high-interest rates and government cooling measures hurt demand. There was a marked slowdown in landed property prices (2.6% vs 4.6% in Q4). Also, the cost of non-landed property eased (1.0% vs 2.3%), due to moderating in Outside Central Region/OCR prices (0.2% vs 4.5% in Q4) and Core Central Region/CCR (3.4% vs 3.9%). In 2023, private housing prices increased by 6.8%, easing from an 8.6% gain in the previous year while marking the second consecutive year of slowing in price momentum.
2024-04-26
Singapore Q1 Private Home Prices Rise for 3rd Quarter
Private home prices in Singapore increased by 1.5% qoq in Q1 of 2024, after a 2.8% expansion in the previous quarter which was the steepest pace in 3 quarters, preliminary estimates showed. It was the third straight quarter of growth, amid a slowdown in landed property prices (3.4% vs 4.6% in Q4). Also, the cost of non-landed property rose at a softer rate (1.0% vs 2.3%), as prices were sluggish in Outside Central Region/OCR prices (0.4% vs 4.5% in Q4) amid slight moderation in Core Central Region/CCR (3.1% vs 3.9%). Meanwhile, sale transaction volume fell by about 20% qoq in Q1. In 2023, private housing prices advanced 6.8%, easing from an 8.6% gain in 2022 while marking the second consecutive year of slowing in price momentum.
2024-04-01
Singapore Q4 Private Home Prices Revised Slightly Higher
Private home prices in Singapore increased by 2.8% qoq in Q4 of 2023, compared with a flash reading of 2.7% rise and after a 0.8% gain in Q3. It was the 2nd straight quarter of growth and the steepest pace in 3 quarters, amid a strong bounce back in prices of landed property (4.6% vs -3.6% in Q3). Also, prices of non-landed property grew further (2.3% vs 2.2%), supported by rises in the Core Central Region/CCR (3.9% vs -2.7%) and Outside the Central Region/OCR (456% vs 5.5%). About 4,100 private residential units were completed in Q4, bringing a total of about 21,300 units completed in 2023, over twice the numbers in a year before and the highest annual supply completion since 2016. For the full year, private housing prices rose 6.8%, slowing from an 8.6% gain in 2022 while marking the 2nd consecutive year of easing in price momentum. About 11,793 private homes, including exclusive condominiums, are set to be ready this year while another 6,747 units are to be completed in 2025.
2024-01-26