Private home prices in Singapore increased by 1.3 percent quarter-on-quarter in the second quarter of 2019, after a 0.7 percent decline in the previous period, a preliminary figure showed. It was the first quarterly increase in private home prices since the third quarter last year, amid government's efforts to impose additional property curbs. Prices of non-landed properties rose by 1.6 percent, reversing a 1.1 percent fall in the prior period. Among this category, prices rebound for both: Core Central Region/CCR (1.5 percent vs -3 percent in Q1) and Rest Central Region/RCR (3 percent vs -0.7 percent) while those of Outside Central Region/OCR rose faster (0.5 percent vs 0.2 percent in Q1). Meantime, prices of landed property went up by 0.2 percent, easing from a 1.1 percent in the first 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.