Key information about House Prices Growth

• Singapore house prices grew 3.9% YoY in Dec 2024, following an increase of 4.4% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1976 to Dec 2024, with an average growth rate of 4.9%.
• House price data reached an all-time high of 102.0% in Mar 1981 and a record low of -34.0% in Dec 1998.

Graph and download economic data for Residential Property Prices for Singapore (QSGN628BIS) from Q1 1998 to Q4 2024 about Singapore, residential, HPI, housing, price index, indexes, and price.

Housing Index in Singapore increased to 210.70 points in the first quarter of 2025 from 209.40 points in the fourth quarter of 2024. This dataset provides the latest reported value for - Singapore Property Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

As of 1st January 2025, the average resale price of a Housing Development Board (HDB) 4-room flat was at 636,259 Singapore dollars. The resale price of such flats had increased by about 200,000 Singapore dollars since 2017. HDB is responsible for managing Singapore's government housing, and cater to all income levels in Singapore. HDB flats range from 1-room apartments to large, multi-generational apartments. Around 75 percent of the Singapore population live in HDB flats. Citizens who wish to purchase a new flat would need to apply for a built-to-order (BTO) apartment.

House price index in Singapore, December, 2024 The most recent value is 157.59 index points as of Q4 2024, an increase compared to the previous value of 154.05 index points. Historically, the average for Singapore from Q1 1998 to Q4 2024 is 96.66 index points. The minimum of 53.81 index points was recorded in Q4 1998, while the maximum of 157.59 index points was reached in Q4 2024. | TheGlobalEconomy.com

The average for 2021 based on 10 countries was 49.666 index points. The highest value was in Singapore: 135 index points and the lowest value was in Thailand: 25.94 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Real residential property prices Y-on-Y, percent change in Singapore, December, 2024 The most recent value is 2.47 percent as of Q4 2024, an increase compared to the previous value of 2.22 percent. Historically, the average for Singapore from Q1 1999 to Q4 2024 is 2.18 percent. The minimum of -25.03 percent was recorded in Q2 2009, while the maximum of 34.09 percent was reached in Q2 2010. | TheGlobalEconomy.com

Dataset from Housing & Development Board. For more information, visit https://data.gov.sg/datasets/d_23000a00c52996c55106084ed0339566/view

Singapore Resale Price: Avg Valuation: HDB Flats: Serangoon: 3 Room Flat data was reported at 307,500.000 SGD in Sep 2018. This records a decrease from the previous number of 315,000.000 SGD for Jun 2018. Singapore Resale Price: Avg Valuation: HDB Flats: Serangoon: 3 Room Flat data is updated quarterly, averaging 277,500.000 SGD from Sep 2002 (Median) to Sep 2018, with 61 observations. The data reached an all-time high of 378,500.000 SGD in Jun 2013 and a record low of 130,800.000 SGD in Sep 2002. Singapore Resale Price: Avg Valuation: HDB Flats: Serangoon: 3 Room Flat data remains active status in CEIC and is reported by Housing & Development Board. The data is categorized under Global Database’s Singapore – Table SG.EB027: Resale Flat Statistics.

Singapore Property Price Index: PR: NL: Core Central Region data was reported at 137.800 1Q2009=100 in Sep 2018. This records an increase from the previous number of 136.000 1Q2009=100 for Jun 2018. Singapore Property Price Index: PR: NL: Core Central Region data is updated quarterly, averaging 108.900 1Q2009=100 from Dec 1995 (Median) to Sep 2018, with 92 observations. The data reached an all-time high of 141.200 1Q2009=100 in Mar 2013 and a record low of 66.100 1Q2009=100 in Dec 1998. Singapore Property Price Index: PR: NL: Core Central Region data remains active status in CEIC and is reported by Urban Redevelopment Authority. The data is categorized under Global Database’s Singapore – Table SG.EB002: Property Price Index.

Singapore Residential Property Transaction: Avg Price: Condominium: Central data was reported at 1,333.000 SGD/Unit th in Jul 2018. This records a decrease from the previous number of 1,936.440 SGD/Unit th for Jun 2018. Singapore Residential Property Transaction: Avg Price: Condominium: Central data is updated monthly, averaging 1,260.000 SGD/Unit th from Jan 1995 (Median) to Jul 2018, with 283 observations. The data reached an all-time high of 2,510.000 SGD/Unit th in Jul 1996 and a record low of 649.459 SGD/Unit th in Dec 1998. Singapore Residential Property Transaction: Avg Price: Condominium: Central data remains active status in CEIC and is reported by Urban Redevelopment Authority. The data is categorized under Global Database’s Singapore – Table SG.EB016: Private Residential Property Transaction.

Singapore Resale Price: Avg Valuation: HDB Flats: Clementi: 4 Room Flat data was reported at 504,000.000 SGD in Sep 2018. This records a decrease from the previous number of 557,500.000 SGD for Jun 2018. Singapore Resale Price: Avg Valuation: HDB Flats: Clementi: 4 Room Flat data is updated quarterly, averaging 435,000.000 SGD from Sep 2002 (Median) to Sep 2018, with 63 observations. The data reached an all-time high of 640,000.000 SGD in Mar 2018 and a record low of 226,600.000 SGD in Sep 2002. Singapore Resale Price: Avg Valuation: HDB Flats: Clementi: 4 Room Flat data remains active status in CEIC and is reported by Housing & Development Board. The data is categorized under Global Database’s Singapore – Table SG.EB027: Resale Flat Statistics.

In 2020, the price to income ratio for new sales of private non-landed residential units in Singapore was 15.4. This ratio, also known as the housing affordability ratio, meant that a median-income household in Singapore would need to save for at least 15.4 years to purchase a private non-landed home.

Dataset from Housing & Development Board. For more information, visit https://data.gov.sg/datasets/d_b51323a474ba789fb4cc3db58a3116d4/view

Singapore Average Loan-to-Value Ratio data was reported at 50.900 % in Sep 2018. This records a decrease from the previous number of 51.500 % for Jun 2018. Singapore Average Loan-to-Value Ratio data is updated quarterly, averaging 49.200 % from Mar 2011 (Median) to Sep 2018, with 31 observations. The data reached an all-time high of 53.600 % in Sep 2017 and a record low of 43.100 % in Dec 2011. Singapore Average Loan-to-Value Ratio data remains active status in CEIC and is reported by Monetary Authority of Singapore. The data is categorized under Global Database’s Singapore – Table SG.KB006: Housing and Bridging Loans.

Singapore Resale Price: Avg Valuation: HDB Flats: Kallang/Whampoa: 3 Room Flat data was reported at 300,000.000 SGD in Jun 2018. This records a decrease from the previous number of 313,000.000 SGD for Mar 2018. Singapore Resale Price: Avg Valuation: HDB Flats: Kallang/Whampoa: 3 Room Flat data is updated quarterly, averaging 297,500.000 SGD from Sep 2002 (Median) to Jun 2018, with 64 observations. The data reached an all-time high of 377,500.000 SGD in Mar 2013 and a record low of 129,900.000 SGD in Sep 2002. Singapore Resale Price: Avg Valuation: HDB Flats: Kallang/Whampoa: 3 Room Flat data remains active status in CEIC and is reported by Housing & Development Board. The data is categorized under Global Database’s Singapore – Table SG.EB027: Resale Flat Statistics.

In the first half of 2020, the rental price of retail colocation in Singapore was between *** and *** U.S. dollars per month. Pricing in hyperscale cloud and wholesale colocation was less expensive, with monthly costs between *** and *** U.S. dollars for the hyperscale, and *** to *** U.S. dollars for wholesale colocation. Hyperscale data centers have the largest power requirements and customers are usually a cloud or large tech company. Wholesale and retail colocation, on the other hand, have smaller power requirements.

In 2023, the smart appliances segment of the smart home market in Singapore generated the highest average revenue, with a value of ***** U.S. dollars per smart home. According to Statista Digital Market Outlook estimates, the energy management segment generated the lowest average revenue at ***** U.S. dollars per smart home. The average revenue per smart home in each segment is expected to decrease in the coming years.

Singapore Residential Property Transaction: Value: Total data was reported at 1,325,068.029 SGD th in Oct 2018. This records a decrease from the previous number of 2,680,204.978 SGD th for Sep 2018. Singapore Residential Property Transaction: Value: Total data is updated monthly, averaging 1,848,363.879 SGD th from Jan 1995 (Median) to Oct 2018, with 286 observations. The data reached an all-time high of 9,797,191.734 SGD th in May 2007 and a record low of 330,942.373 SGD th in Feb 1998. Singapore Residential Property Transaction: Value: Total data remains active status in CEIC and is reported by Urban Redevelopment Authority. The data is categorized under Global Database’s Singapore – Table SG.EB016: Private Residential Property Transaction.