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How interest rates and yields affect property prices

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The 3-month rate fell from 7.4% in 1990 to near zero, then rose to 3.7% in 2023

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The 3-month rate fell from 7.4% in 1990 to near zero, then rose to 3.7% in 2023

Quarterly average of month-end rates (%). SIBOR to 2013 Q1 and SORA from 2005 Q4 overlap and are not joined

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The 3-month rate fell from 7.4% in 1990 to near zero, then rose to 3.7% in 2023Quarterly average of month-end rates (%). SIBOR to 2013 Q1 and SORA from 2005 Q4 overlap and are not joined0.0%2.0%4.0%6.0%8.0%1988199219962000200420082012201620202024SIBOR 3m: 1988-Q1 to 2013-Q1SORA 3m: 2005-Q4 to 2026-Q3SIBOR 3m, 1990 Q2: 7.4%SIBOR 3m, 1990 Q2: 7.4%7.4%SORA 3m, 2023 Q4: 3.7%SORA 3m, 2023 Q4: 3.7%3.7%SIBOR 3m, 2013 Q1: 0.4%SIBOR 3mSORA 3m, 2026 Q3: 1.2%SORA 3m1988-Q1: SIBOR 3m 3.1%, SORA 3m no data1988-Q2: SIBOR 3m 3.9%, SORA 3m no data1988-Q3: SIBOR 3m 5.2%, SORA 3m no data1988-Q4: SIBOR 3m 5.3%, SORA 3m no data1989-Q1: SIBOR 3m 5.4%, SORA 3m no data1989-Q2: SIBOR 3m 5.3%, SORA 3m no data1989-Q3: SIBOR 3m 5.3%, SORA 3m no data1989-Q4: SIBOR 3m 5.5%, SORA 3m no data1990-Q1: SIBOR 3m 6.4%, SORA 3m no data1990-Q2: SIBOR 3m 7.4%, SORA 3m no data1990-Q3: SIBOR 3m 6.9%, SORA 3m no data1990-Q4: SIBOR 3m 5.8%, SORA 3m no data1991-Q1: SIBOR 3m 4.8%, SORA 3m no data1991-Q2: SIBOR 3m 5.7%, SORA 3m no data1991-Q3: SIBOR 3m 5.3%, SORA 3m no data1991-Q4: SIBOR 3m 3.5%, SORA 3m no data1992-Q1: SIBOR 3m 3.5%, SORA 3m no data1992-Q2: SIBOR 3m 3.2%, SORA 3m no data1992-Q3: SIBOR 3m 2.2%, SORA 3m no data1992-Q4: SIBOR 3m 2.3%, SORA 3m no data1993-Q1: SIBOR 3m 2.0%, SORA 3m no data1993-Q2: SIBOR 3m 2.9%, SORA 3m no data1993-Q3: SIBOR 3m 2.8%, SORA 3m no data1993-Q4: SIBOR 3m 2.6%, SORA 3m no data1994-Q1: SIBOR 3m 3.3%, SORA 3m no data1994-Q2: SIBOR 3m 3.9%, SORA 3m no data1994-Q3: SIBOR 3m 3.8%, SORA 3m no data1994-Q4: SIBOR 3m 4.1%, SORA 3m no data1995-Q1: SIBOR 3m 3.1%, SORA 3m no data1995-Q2: SIBOR 3m 1.9%, SORA 3m no data1995-Q3: SIBOR 3m 3.0%, SORA 3m no data1995-Q4: SIBOR 3m 2.7%, SORA 3m no data1996-Q1: SIBOR 3m 2.4%, SORA 3m no data1996-Q2: SIBOR 3m 2.6%, SORA 3m no data1996-Q3: SIBOR 3m 3.4%, SORA 3m no data1996-Q4: SIBOR 3m 3.4%, SORA 3m no data1997-Q1: SIBOR 3m 3.1%, SORA 3m no data1997-Q2: SIBOR 3m 3.7%, SORA 3m no data1997-Q3: SIBOR 3m 4.1%, SORA 3m no data1997-Q4: SIBOR 3m 6.0%, SORA 3m no data1998-Q1: SIBOR 3m 6.0%, SORA 3m no data1998-Q2: SIBOR 3m 6.0%, SORA 3m no data1998-Q3: SIBOR 3m 4.9%, SORA 3m no data1998-Q4: SIBOR 3m 2.3%, SORA 3m no data1999-Q1: SIBOR 3m 2.0%, SORA 3m no data1999-Q2: SIBOR 3m 1.6%, SORA 3m no data1999-Q3: SIBOR 3m 2.3%, SORA 3m no data1999-Q4: SIBOR 3m 2.6%, SORA 3m no data2000-Q1: SIBOR 3m 2.4%, SORA 3m no data2000-Q2: SIBOR 3m 2.6%, SORA 3m no data2000-Q3: SIBOR 3m 2.6%, SORA 3m no data2000-Q4: SIBOR 3m 2.8%, SORA 3m no data2001-Q1: SIBOR 3m 2.3%, SORA 3m no data2001-Q2: SIBOR 3m 2.3%, SORA 3m no data2001-Q3: SIBOR 3m 2.1%, SORA 3m no data2001-Q4: SIBOR 3m 1.1%, SORA 3m no data2002-Q1: SIBOR 3m 1.0%, SORA 3m no data2002-Q2: SIBOR 3m 0.9%, SORA 3m no data2002-Q3: SIBOR 3m 1.0%, SORA 3m no data2002-Q4: SIBOR 3m 0.9%, SORA 3m no data2003-Q1: SIBOR 3m 0.7%, SORA 3m no data2003-Q2: SIBOR 3m 0.7%, SORA 3m no data2003-Q3: SIBOR 3m 0.8%, SORA 3m no data2003-Q4: SIBOR 3m 0.8%, SORA 3m no data2004-Q1: SIBOR 3m 0.8%, SORA 3m no data2004-Q2: SIBOR 3m 0.8%, SORA 3m no data2004-Q3: SIBOR 3m 1.3%, SORA 3m no data2004-Q4: SIBOR 3m 1.4%, SORA 3m no data2005-Q1: SIBOR 3m 1.9%, SORA 3m no data2005-Q2: SIBOR 3m 2.1%, SORA 3m no data2005-Q3: SIBOR 3m 2.1%, SORA 3m no data2005-Q4: SIBOR 3m 3.0%, SORA 3m 2.3%2006-Q1: SIBOR 3m 3.4%, SORA 3m 3.1%2006-Q2: SIBOR 3m 3.5%, SORA 3m 3.1%2006-Q3: SIBOR 3m 3.5%, SORA 3m 3.2%2006-Q4: SIBOR 3m 3.5%, SORA 3m 3.3%2007-Q1: SIBOR 3m 3.3%, SORA 3m 3.1%2007-Q2: SIBOR 3m 2.5%, SORA 3m 2.4%2007-Q3: SIBOR 3m 2.6%, SORA 3m 2.3%2007-Q4: SIBOR 3m 2.5%, SORA 3m 2.0%2008-Q1: SIBOR 3m 1.5%, SORA 3m 1.2%2008-Q2: SIBOR 3m 1.3%, SORA 3m 0.7%2008-Q3: SIBOR 3m 1.4%, SORA 3m 0.5%2008-Q4: SIBOR 3m 1.0%, SORA 3m 0.6%2009-Q1: SIBOR 3m 0.7%, SORA 3m 0.2%2009-Q2: SIBOR 3m 0.7%, SORA 3m 0.2%2009-Q3: SIBOR 3m 0.7%, SORA 3m 0.2%2009-Q4: SIBOR 3m 0.7%, SORA 3m 0.2%2010-Q1: SIBOR 3m 0.7%, SORA 3m 0.1%2010-Q2: SIBOR 3m 0.6%, SORA 3m 0.1%2010-Q3: SIBOR 3m 0.5%, SORA 3m 0.1%2010-Q4: SIBOR 3m 0.4%, SORA 3m 0.1%2011-Q1: SIBOR 3m 0.4%, SORA 3m 0.1%2011-Q2: SIBOR 3m 0.4%, SORA 3m 0.1%2011-Q3: SIBOR 3m 0.3%, SORA 3m 0.0%2011-Q4: SIBOR 3m 0.4%, SORA 3m 0.1%2012-Q1: SIBOR 3m 0.4%, SORA 3m 0.1%2012-Q2: SIBOR 3m 0.4%, SORA 3m 0.0%2012-Q3: SIBOR 3m 0.4%, SORA 3m 0.1%2012-Q4: SIBOR 3m 0.4%, SORA 3m 0.1%2013-Q1: SIBOR 3m 0.4%, SORA 3m 0.0%2013-Q2: SIBOR 3m no data, SORA 3m 0.1%2013-Q3: SIBOR 3m no data, SORA 3m 0.0%2013-Q4: SIBOR 3m no data, SORA 3m 0.1%2014-Q1: SIBOR 3m no data, SORA 3m 0.1%2014-Q2: SIBOR 3m no data, SORA 3m 0.1%2014-Q3: SIBOR 3m no data, SORA 3m 0.1%2014-Q4: SIBOR 3m no data, SORA 3m 0.1%2015-Q1: SIBOR 3m no data, SORA 3m 0.2%2015-Q2: SIBOR 3m no data, SORA 3m 0.2%2015-Q3: SIBOR 3m no data, SORA 3m 0.2%2015-Q4: SIBOR 3m no data, SORA 3m 0.3%2016-Q1: SIBOR 3m no data, SORA 3m 0.3%2016-Q2: SIBOR 3m no data, SORA 3m 0.3%2016-Q3: SIBOR 3m no data, SORA 3m 0.2%2016-Q4: SIBOR 3m no data, SORA 3m 0.1%2017-Q1: SIBOR 3m no data, SORA 3m 0.2%2017-Q2: SIBOR 3m no data, SORA 3m 0.4%2017-Q3: SIBOR 3m no data, SORA 3m 0.7%2017-Q4: SIBOR 3m no data, SORA 3m 0.8%2018-Q1: SIBOR 3m no data, SORA 3m 0.7%2018-Q2: SIBOR 3m no data, SORA 3m 0.8%2018-Q3: SIBOR 3m no data, SORA 3m 1.2%2018-Q4: SIBOR 3m no data, SORA 3m 1.3%2019-Q1: SIBOR 3m no data, SORA 3m 1.6%2019-Q2: SIBOR 3m no data, SORA 3m 1.7%2019-Q3: SIBOR 3m no data, SORA 3m 1.6%2019-Q4: SIBOR 3m no data, SORA 3m 1.3%2020-Q1: SIBOR 3m no data, SORA 3m 1.1%2020-Q2: SIBOR 3m no data, SORA 3m 0.3%2020-Q3: SIBOR 3m no data, SORA 3m 0.1%2020-Q4: SIBOR 3m no data, SORA 3m 0.1%2021-Q1: SIBOR 3m no data, SORA 3m 0.2%2021-Q2: SIBOR 3m no data, SORA 3m 0.2%2021-Q3: SIBOR 3m no data, SORA 3m 0.1%2021-Q4: SIBOR 3m no data, SORA 3m 0.2%2022-Q1: SIBOR 3m no data, SORA 3m 0.2%2022-Q2: SIBOR 3m no data, SORA 3m 0.5%2022-Q3: SIBOR 3m no data, SORA 3m 1.6%2022-Q4: SIBOR 3m no data, SORA 3m 2.8%2023-Q1: SIBOR 3m no data, SORA 3m 3.3%2023-Q2: SIBOR 3m no data, SORA 3m 3.6%2023-Q3: SIBOR 3m no data, SORA 3m 3.7%2023-Q4: SIBOR 3m no data, SORA 3m 3.7%2024-Q1: SIBOR 3m no data, SORA 3m 3.7%2024-Q2: SIBOR 3m no data, SORA 3m 3.6%2024-Q3: SIBOR 3m no data, SORA 3m 3.6%2024-Q4: SIBOR 3m no data, SORA 3m 3.2%2025-Q1: SIBOR 3m no data, SORA 3m 2.7%2025-Q2: SIBOR 3m no data, SORA 3m 2.2%2025-Q3: SIBOR 3m no data, SORA 3m 1.6%2025-Q4: SIBOR 3m no data, SORA 3m 1.3%2026-Q1: SIBOR 3m no data, SORA 3m 1.1%2026-Q2: SIBOR 3m no data, SORA 3m 1.1%2026-Q3: SIBOR 3m no data, SORA 3m 1.2%

Source: SIBOR: PropertyMarketInsights.com data set (to March 2013); 3-month compounded SORA: SingStat table M700071 (from October 2005). Quarterly averages of month-end values. SIBOR series compiled by PropInsights from ABS releases. Data to 2026 Q3.

Licence: green class (Singapore Open Data Licence); amber class.

View the data as a table
The 3-month rate fell from 7.4% in 1990 to near zero, then rose to 3.7% in 2023
PeriodSIBOR 3mSORA 3m
1988-Q13.1%
1988-Q23.9%
1988-Q35.2%
1988-Q45.3%
1989-Q15.4%
1989-Q25.3%
1989-Q35.3%
1989-Q45.5%
1990-Q16.4%
1990-Q27.4%
1990-Q36.9%
1990-Q45.8%
1991-Q14.8%
1991-Q25.7%
1991-Q35.3%
1991-Q43.5%
1992-Q13.5%
1992-Q23.2%
1992-Q32.2%
1992-Q42.3%
1993-Q12.0%
1993-Q22.9%
1993-Q32.8%
1993-Q42.6%
1994-Q13.3%
1994-Q23.9%
1994-Q33.8%
1994-Q44.1%
1995-Q13.1%
1995-Q21.9%
1995-Q33.0%
1995-Q42.7%
1996-Q12.4%
1996-Q22.6%
1996-Q33.4%
1996-Q43.4%
1997-Q13.1%
1997-Q23.7%
1997-Q34.1%
1997-Q46.0%
1998-Q16.0%
1998-Q26.0%
1998-Q34.9%
1998-Q42.3%
1999-Q12.0%
1999-Q21.6%
1999-Q32.3%
1999-Q42.6%
2000-Q12.4%
2000-Q22.6%
2000-Q32.6%
2000-Q42.8%
2001-Q12.3%
2001-Q22.3%
2001-Q32.1%
2001-Q41.1%
2002-Q11.0%
2002-Q20.9%
2002-Q31.0%
2002-Q40.9%
2003-Q10.7%
2003-Q20.7%
2003-Q30.8%
2003-Q40.8%
2004-Q10.8%
2004-Q20.8%
2004-Q31.3%
2004-Q41.4%
2005-Q11.9%
2005-Q22.1%
2005-Q32.1%
2005-Q43.0%2.3%
2006-Q13.4%3.1%
2006-Q23.5%3.1%
2006-Q33.5%3.2%
2006-Q43.5%3.3%
2007-Q13.3%3.1%
2007-Q22.5%2.4%
2007-Q32.6%2.3%
2007-Q42.5%2.0%
2008-Q11.5%1.2%
2008-Q21.3%0.7%
2008-Q31.4%0.5%
2008-Q41.0%0.6%
2009-Q10.7%0.2%
2009-Q20.7%0.2%
2009-Q30.7%0.2%
2009-Q40.7%0.2%
2010-Q10.7%0.1%
2010-Q20.6%0.1%
2010-Q30.5%0.1%
2010-Q40.4%0.1%
2011-Q10.4%0.1%
2011-Q20.4%0.1%
2011-Q30.3%0.0%
2011-Q40.4%0.1%
2012-Q10.4%0.1%
2012-Q20.4%0.0%
2012-Q30.4%0.1%
2012-Q40.4%0.1%
2013-Q10.4%0.0%
2013-Q20.1%
2013-Q30.0%
2013-Q40.1%
2014-Q10.1%
2014-Q20.1%
2014-Q30.1%
2014-Q40.1%
2015-Q10.2%
2015-Q20.2%
2015-Q30.2%
2015-Q40.3%
2016-Q10.3%
2016-Q20.3%
2016-Q30.2%
2016-Q40.1%
2017-Q10.2%
2017-Q20.4%
2017-Q30.7%
2017-Q40.8%
2018-Q10.7%
2018-Q20.8%
2018-Q31.2%
2018-Q41.3%
2019-Q11.6%
2019-Q21.7%
2019-Q31.6%
2019-Q41.3%
2020-Q11.1%
2020-Q20.3%
2020-Q30.1%
2020-Q40.1%
2021-Q10.2%
2021-Q20.2%
2021-Q30.1%
2021-Q40.2%
2022-Q10.2%
2022-Q20.5%
2022-Q31.6%
2022-Q42.8%
2023-Q13.3%
2023-Q23.6%
2023-Q33.7%
2023-Q43.7%
2024-Q13.7%
2024-Q23.6%
2024-Q33.6%
2024-Q43.2%
2025-Q12.7%
2025-Q22.2%
2025-Q31.6%
2025-Q41.3%
2026-Q11.1%
2026-Q21.1%
2026-Q31.2%
Topic
How interest rates and yields affect property prices
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How interest rates and yields affect property prices

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Previous chartThe 3-month SORA rose 3.6 points in two years, to 3.73% in 2023 Q4Next chartRates sat near zero for years, then rose 3.6 points as debt rules tightened