Private home prices in Singapore dropped by 0.7 percent quarter-on-quarter in the first quarter of 2019, compared to the preliminary figure of a 0.6 percent fall and after a 0.1 percent decline in the previous period. It was the second straight quarterly decrease in private home prices, amid government's efforts to impose additional property curbs. Prices of non-landed properties declined by 1.1 percent, reversing a 0.5 percent rise in the prior period. Among this category, prices fell for both Core Central Region/CCR (-3 percent vs -1 percent in Q4) and Rest Central Region/RCR (-0.7 percent vs 1.8 percent) while those of Outside Central Region/OCR rose by 0.2 percent (vs 0.7 percent in Q4). Meantime, prices of landed property increased by 1.1 percent, swinging from a 2 percent drop 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.