Singapore Q3 Private Home Prices Revised Downward

Private home prices in Singapore rose 0.6% quarter-on-quarter in Q4 2025, below the preliminary estimate of 0.7% and following a 0.9% increase in the previous quarter. This marked the fifth consecutive quarter of growth, albeit at the slowest pace in the sequence. The moderation came as faster rises in landed property prices (3.4% vs 1.4% in Q3) partly offset a slight decline in non-landed property prices (-0.2% vs 0.8%). For the full year of 2025, home prices moderated to 3.3%, lower than earlier estimates of 3.4%, marking the smallest annual increase since 2020. Home prices grew by 3.9% and 6.8% in 2024 and 2023, respectively. This was also significantly lower than the 8.6% increase in 2022 and the 10.6% rise in 2021. The slowdown in home prices last year was weighed down by a moderation in non-landed prices, which rose 2.3%, easing from 4.7% in 2024, despite landed home prices increasing 7.6%, sharply accelerating from a 0.9% rise in 2024.

Private home prices in Singapore increased 0.7% quarter-on-quarter in Q4 2025, following a 0.9% rise in the previous quarter, preliminary estimates showed. This marked the fifth consecutive quarter of growth, albeit at the softest pace in the sequence. The moderation came as faster rises in landed property prices (3.5% vs 1.4% in Q3) partly offset a slight decline in non-landed property prices. Non-landed property prices edged down 0.1%, reversing a 0.8% rise in Q3, weighed by a decline in the Core Central Region (-3.2% vs 1.7%), partly offset by faster increases in the Rest of Central Region (0.7% vs 0.3%) and the Outside Central Region (1.0% vs 0.8%). For the whole of 2025, home prices moderated to 3.4%, marking the smallest annual increase since 2020.

Private home prices in Singapore rose 0.9% qoq in Q3 2025, revised down from the preliminary estimate of 1.2% and below the 1.0% increase in the previous quarter. This marked the fourth consecutive quarter of growth, albeit at a softer pace. The moderation was most evident in landed property prices, which rose 1.4% compared with 2.2% in Q2. Meanwhile, non-landed property prices accelerated slightly (0.8% vs 0.7% in Q2), driven by a rebound in the Rest of Central Region (0.3% vs -1.1%). In contrast, prices in the Core Central Region (1.7% from 3.0%) and Outside Central Region (0.8% from 1.1%) both recorded softer growth. In a statement, the government said it will continue to monitor economic and property market conditions closely and ensure adequate private housing and commercial space to meet the needs of the population and the economy.