Private home prices in Singapore dropped by 0.1 percent quarter-on-quarter in the December quarter of 2018, in line with the preliminary figure and after a 0.5 percent rise in the previous period, final data showed. It marked the first quarterly decline in private home prices since the second quarter of 2017, amid efforts from government to impose additional property curbs. Prices of landed property fell by 2 percent, following a 2.3 percent gain in the third quarter. Meantime, prices of non-landed properties rose 0.5 percent, following a flat reading in the prior period. Among this category, prices decreased in the core central region (-1 percent vs 1.3 percent), but rebounded in the rest of central region (1.8 percent vs -1.3 percent) and in the outside central region (0.7 percent vs -0.1 percent). Considering 2018 full year, prices rose 7.9 percent, compared with a 1.1 percent increase in 2017. Housing Index in Singapore averaged 77.52 Index Points from 1975 until 2018, 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 152.00 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 154.00 in 12 months time. In the long-term, the Singapore Residential Property Price Index is projected to trend around 156.00 Index Points in 2020, according to our econometric models.