The first quarter of 2025 has shown a notable cooling of Singapore's property market, as indicated by the latest data from the Urban Redevelopment Authority (URA). According to the URA Property Index updated on April 1, 2025, the index has experienced a sharp decline to 0.60%, a significant drop compared to the 2.30% increase recorded in the previous quarter (Q4 2024).
This quarter-over-quarter comparison underscores a marked downturn in the pace of property price growth, signaling a potential stabilization after a period of rapid expansion. The previous quarter's 2.30% increase reflected buoyant market activities as prices surged towards the end of 2024. However, the current quarter's figures reveal a drastic slowdown, suggesting that soaring property prices may now be hitting a plateau.
Experts anticipate a period of adjustment as the Singaporean real estate market responds to these changes. This fluctuation could bring a mix of relief and recalibration for both buyers and sellers in the coming quarters. Whether this trend will continue or if it's merely a temporary pause in the broader market's upward trajectory is now the focus of much speculation and analysis within the industry.