In Q3 2019, the PropertyGuru Singapore Property Price Index (SPPI), which focuses on the asking prices in the non-landed private residential market, fell by 0.8% to 102.4 in the previous quarter. This marks a steady decline since the start of 2019, and a fall of 3.1% year-on-year since the highs of Q3 2018, when the Singapore government’s additional cooling measures came into effect.
Meanwhile, The PropertyGuru Singapore Property Supply Index (SPSI), which focuses on the number of non-landed private residential listings posted on PropertyGuru, saw a gain of 14.9% from 94.5 in the previous quarter to 109.2 in Q3 2019. This marks the biggest increase in the SPSI in more than a year. In total, 20 postal districts reported an increase in the number of listing postings which, when viewed in perspective with the increased transaction volume in Q3 2019 that saw 5,763 total units transacted, could indicate a significant reboot in market activity—on both the buying and selling fronts—since the implementation of additional property curbs last July.
Join us November 13-15 for the Property Portal Watch Conference Madrid 2019.