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Understanding the property market cycle

FreeLine chart

Four full cycles since 1996, and a fifth under way

FreeLine chart

Four full cycles since 1996, and a fifth under way

URA price index, 1Q2009 = 100. Shading: green Early Bull, amber Late Bull, red Early Bear, violet Late Bear.

CSV download: members

Four full cycles since 1996, and a fifth under wayURA price index, 1Q2009 = 100. Shading: green Early Bull, amber Late Bull, red Early Bear, violet Late Bear. The current phase is for members.Late Bull: 1996-Q1 to 1996-Q2Early Bear: 1996-Q3 to 1998-Q3Late Bear: 1998-Q4 to 1998-Q4Early Bull: 1999-Q1 to 1999-Q4Late Bull: 2000-Q1 to 2000-Q2Early Bear: 2000-Q3 to 2001-Q3Late Bear: 2001-Q4 to 2004-Q1Early Bull: 2004-Q2 to 2007-Q3Late Bull: 2007-Q4 to 2008-Q2Early Bear: 2008-Q3 to 2009-Q1Late Bear: 2009-Q2 to 2009-Q2Early Bull: 2009-Q3 to 2011-Q2Late Bull: 2011-Q3 to 2013-Q3Early Bear: 2013-Q4 to 2016-Q4Late Bear: 2017-Q1 to 2017-Q2Early Bull: 2017-Q3 to 2018-Q3Late Bull: 2018-Q4 to 2019-Q4Early Bear: 2020-Q1 to 2020-Q2Late Bear: 2020-Q3 to 2020-Q3Early Bull: 2020-Q4 to 2025-Q3Current phase: membersCurrent phase: members60901201501802102401996199820002002200420062008201020122014201620182020202220242026Price index: 1996-Q1 to 2026-Q2Price index, 2026 Q2: 219Price index1996-Q1: Price index 1221996-Q2: Price index 1301996-Q3: Price index 1271996-Q4: Price index 1241997-Q1: Price index 1191997-Q2: Price index 1181997-Q3: Price index 1131997-Q4: Price index 1081998-Q1: Price index 981998-Q2: Price index 901998-Q3: Price index 781998-Q4: Price index 721999-Q1: Price index 751999-Q2: Price index 841999-Q3: Price index 911999-Q4: Price index 962000-Q1: Price index 992000-Q2: Price index 1002000-Q3: Price index 982000-Q4: Price index 952001-Q1: Price index 912001-Q2: Price index 902001-Q3: Price index 882001-Q4: Price index 842002-Q1: Price index 832002-Q2: Price index 822002-Q3: Price index 832002-Q4: Price index 822003-Q1: Price index 822003-Q2: Price index 812003-Q3: Price index 812003-Q4: Price index 812004-Q1: Price index 802004-Q2: Price index 802004-Q3: Price index 812004-Q4: Price index 812005-Q1: Price index 822005-Q2: Price index 822005-Q3: Price index 832005-Q4: Price index 852006-Q1: Price index 862006-Q2: Price index 872006-Q3: Price index 902006-Q4: Price index 932007-Q1: Price index 982007-Q2: Price index 1062007-Q3: Price index 1142007-Q4: Price index 1222008-Q1: Price index 1272008-Q2: Price index 1272008-Q3: Price index 1242008-Q4: Price index 1162009-Q1: Price index 1002009-Q2: Price index 952009-Q3: Price index 1102009-Q4: Price index 1182010-Q1: Price index 1252010-Q2: Price index 1322010-Q3: Price index 1362010-Q4: Price index 1392011-Q1: Price index 1422011-Q2: Price index 1452011-Q3: Price index 1472011-Q4: Price index 1472012-Q1: Price index 1472012-Q2: Price index 1482012-Q3: Price index 1492012-Q4: Price index 1522013-Q1: Price index 1522013-Q2: Price index 1542013-Q3: Price index 1552013-Q4: Price index 1532014-Q1: Price index 1512014-Q2: Price index 1502014-Q3: Price index 1492014-Q4: Price index 1472015-Q1: Price index 1462015-Q2: Price index 1442015-Q3: Price index 1422015-Q4: Price index 1422016-Q1: Price index 1412016-Q2: Price index 1402016-Q3: Price index 1382016-Q4: Price index 1372017-Q1: Price index 1372017-Q2: Price index 1372017-Q3: Price index 1382017-Q4: Price index 1392018-Q1: Price index 1442018-Q2: Price index 1492018-Q3: Price index 1502018-Q4: Price index 1502019-Q1: Price index 1492019-Q2: Price index 1512019-Q3: Price index 1532019-Q4: Price index 1542020-Q1: Price index 1522020-Q2: Price index 1532020-Q3: Price index 1542020-Q4: Price index 1572021-Q1: Price index 1622021-Q2: Price index 1642021-Q3: Price index 1652021-Q4: Price index 1742022-Q1: Price index 1752022-Q2: Price index 1812022-Q3: Price index 1882022-Q4: Price index 1892023-Q1: Price index 1952023-Q2: Price index 1942023-Q3: Price index 1962023-Q4: Price index 2022024-Q1: Price index 2042024-Q2: Price index 2062024-Q3: Price index 2052024-Q4: Price index 2092025-Q1: Price index 2112025-Q2: Price index 2132025-Q3: Price index 2152025-Q4: Price index 2162026-Q1: Price index 2182026-Q2: Price index 219Cycle phase:Early BullLate BullEarly BearLate Bear

The current phase is for members. See plans

Source: URA price index via SingStat (M212261); phases from the PropInsights Property Market Cycle Model. Rules: see the cycle model page. Phases start in 1996 Q3. Data to 2026 Q2.

Licence: green class (Singapore Open Data Licence).

View the data as a table
Four full cycles since 1996, and a fifth under way
PeriodPrice index
1996-Q1122
1996-Q2130
1996-Q3127
1996-Q4124
1997-Q1119
1997-Q2118
1997-Q3113
1997-Q4108
1998-Q198
1998-Q290
1998-Q378
1998-Q472
1999-Q175
1999-Q284
1999-Q391
1999-Q496
2000-Q199
2000-Q2100
2000-Q398
2000-Q495
2001-Q191
2001-Q290
2001-Q388
2001-Q484
2002-Q183
2002-Q282
2002-Q383
2002-Q482
2003-Q182
2003-Q281
2003-Q381
2003-Q481
2004-Q180
2004-Q280
2004-Q381
2004-Q481
2005-Q182
2005-Q282
2005-Q383
2005-Q485
2006-Q186
2006-Q287
2006-Q390
2006-Q493
2007-Q198
2007-Q2106
2007-Q3114
2007-Q4122
2008-Q1127
2008-Q2127
2008-Q3124
2008-Q4116
2009-Q1100
2009-Q295
2009-Q3110
2009-Q4118
2010-Q1125
2010-Q2132
2010-Q3136
2010-Q4139
2011-Q1142
2011-Q2145
2011-Q3147
2011-Q4147
2012-Q1147
2012-Q2148
2012-Q3149
2012-Q4152
2013-Q1152
2013-Q2154
2013-Q3155
2013-Q4153
2014-Q1151
2014-Q2150
2014-Q3149
2014-Q4147
2015-Q1146
2015-Q2144
2015-Q3142
2015-Q4142
2016-Q1141
2016-Q2140
2016-Q3138
2016-Q4137
2017-Q1137
2017-Q2137
2017-Q3138
2017-Q4139
2018-Q1144
2018-Q2149
2018-Q3150
2018-Q4150
2019-Q1149
2019-Q2151
2019-Q3153
2019-Q4154
2020-Q1152
2020-Q2153
2020-Q3154
2020-Q4157
2021-Q1162
2021-Q2164
2021-Q3165
2021-Q4174
2022-Q1175
2022-Q2181
2022-Q3188
2022-Q4189
2023-Q1195
2023-Q2194
2023-Q3196
2023-Q4202
2024-Q1204
2024-Q2206
2024-Q3205
2024-Q4209
2025-Q1211
2025-Q2213
2025-Q3215
2025-Q4216
2026-Q1218
2026-Q2219
Topic
Understanding the property market cycle
Segment
The overall market
Chart type
Line chart
Access
FreeCSV download is for members.

Understanding the property market cycle

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Previous chartThe market moves one way round the four phases and never skips oneNext chartEvery completed phase since 1996: Early Bulls ran longest and gained most