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A short history of the Singapore property market

FreeTimeline

Private home prices have swung in long waves since 1975

FreeTimeline

Private home prices have swung in long waves since 1975

Blue: prices rose. Grey: prices fell. Each bar runs from one turning point of the PPI to the next.

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Private home prices have swung in long waves since 1975Blue: prices rose. Grey: prices fell. Each bar runs from one turning point of the PPI to the next.19601970198019902000201020202030Price eras (change in the PPI)EventsFirst boomSlumpBiggest bullAsian crisisReboundDotcom slumpBoomGlobal crisisRecoverySlow declineNew highsHDB set upGovernment land sales beginAnti-speculation packageReserve List for land sitesTwo integrated resorts plannedFirst cooling measureABSD introducedTDSR introducedABSD and TDSR tightenedSSD back to four yearsFirst boom: Q1 1975 to Q3 1983 (+321%)Q1 1975 to Q3 1983+321%Slump: Q3 1983 to Q2 1986 (-36%)Q3 1983 to Q2 1986-36%Biggest bull: Q2 1986 to Q2 1996 (+443%)Q2 1986 to Q2 1996+443%Asian crisis: Q2 1996 to Q4 1998 (-45%)Q2 1996 to Q4 1998-45%Rebound: Q4 1998 to Q2 2000 (+40%)Q4 1998 to Q2 2000+40%Dotcom slump: Q2 2000 to Q1 2004 (-20%)Q2 2000 to Q1 2004-20%Boom: Q1 2004 to Q2 2008 (+58%)Q1 2004 to Q2 2008+58%Global crisis: Q2 2008 to Q2 2009 (-25%)Q2 2008 to Q2 2009-25%Recovery: Q2 2009 to Q3 2013 (+62%)Q2 2009 to Q3 2013+62%Slow decline: Q3 2013 to Q2 2017 (-12%)Q3 2013 to Q2 2017-12%New highs: Q2 2017 to Q2 2026 (+61%)Q2 2017 to Q2 2026+61%HDB set up: Feb 1960Feb 1960Government land sales begin: 19671967Anti-speculation package: May 1996May 1996Reserve List for land sites: Jun 2001Jun 2001Two integrated resorts planned: Apr 2005Apr 2005First cooling measure: Sep 2009Sep 2009ABSD introduced: Dec 2011Dec 2011TDSR introduced: Jun 2013Jun 2013ABSD and TDSR tightened: Dec 2021Dec 2021SSD back to four years: Jul 2025Jul 2025

Source: URA price index via SingStat (table M212261). Events from the Propwise policy timeline (government sources). Change figures are the index at each turning point.

View the data as a table
Private home prices have swung in long waves since 1975
EventStartEndNote
First boom1975-Q11983-Q3+321%
Slump1983-Q31986-Q2-36%
Biggest bull1986-Q21996-Q2+443%
Asian crisis1996-Q21998-Q4-45%
Rebound1998-Q42000-Q2+40%
Dotcom slump2000-Q22004-Q1-20%
Boom2004-Q12008-Q2+58%
Global crisis2008-Q22009-Q2-25%
Recovery2009-Q22013-Q3+62%
Slow decline2013-Q32017-Q2-12%
New highs2017-Q22026-Q2+61%
HDB set up1960-02-01
Government land sales begin1967
Anti-speculation package1996-05-14
Reserve List for land sites2001-06-05
Two integrated resorts planned2005-04-18
First cooling measure2009-09-14
ABSD introduced2011-12-07
TDSR introduced2013-06-28
ABSD and TDSR tightened2021-12-15
SSD back to four years2025-07-03
Topic
A short history of the Singapore property market
Segment
The overall market
Chart type
Timeline
Access
FreeCSV download is for members.

A short history of the Singapore property market

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Previous chartPrivate home prices rose almost 25 times since 1975, with five big falls on the wayNext chartFifteen of sixteen measures since 2009 tightened the market