Private home prices in Singapore were revised higher to 1.5 percent quarter-on-quarter in the three months ended in June 2019 from a preliminary estimate of 1.3 percent and rebounding from a 0.7 percent fall in the prior period, final data showed. Prices of non-landed properties rebounded strongly (2 percent vs -1.1 percent in Q1), supported by an upturn in both the Core Central Region/CCR (2.3 percent vs -3 percent) and Rest Central Region/RCR (3.5 percent vs -0.7 percent); and a faster increase in those in the Outside Central Region/OCR (0.4 percent vs 0.2 percent). Meantime, prices of landed property declined by 0.1 percent, shifting from a 1.1 percent advance in the prior quarter. Housing Index in Singapore averaged 78.74 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 150.00 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 166.00 Index Points in 2020, according to our econometric models.