Singapore home prices and US interest rates, since 1975
Singapore's two official home price indices and the US Federal Reserve's policy rate, on the same time axis so a year sits at the same point in each chart. They are drawn separately because an index and an interest rate have different scales; putting them on one chart would suggest a relationship the chart cannot show. Singapore mortgages are priced off SORA, a local rate that tends to move with US rates.
HDB resale price index
202.8 · Q2 2026
Private residential price index
219.4 · Q2 2026
US Fed funds rate
3.63% · Aug 2026
The figures, year by year
The last published reading in each year: the fourth quarter for the indices, December for the Fed funds rate, or the latest available for the current year.
| Year | HDB resale price index | Private residential price index | US Fed funds rate |
|---|---|---|---|
| 2026 | 202.8 | 219.4 | 3.63% |
| 2025 | 203.6 | 216.4 | 3.72% |
| 2024 | 197.9 | 209.4 | 4.48% |
| 2023 | 180.4 | 201.5 | 5.33% |
| 2022 | 171.9 | 188.6 | 4.10% |
| 2021 | 155.7 | 173.6 | 0.08% |
| 2020 | 138.1 | 157.0 | 0.09% |
| 2019 | 131.5 | 153.6 | 1.55% |
| 2018 | 131.4 | 149.6 | 2.27% |
| 2017 | 132.6 | 138.7 | 1.30% |
| 2016 | 134.6 | 137.2 | 0.54% |
| 2015 | 134.8 | 141.6 | 0.24% |
| 2014 | 137.0 | 147.0 | 0.12% |
| 2013 | 145.8 | 153.2 | 0.09% |
| 2012 | 146.7 | 151.5 | 0.16% |
| 2011 | 137.7 | 147.4 | 0.07% |
| 2010 | 124.4 | 139.2 | 0.18% |
| 2009 | 109.0 | 118.4 | 0.12% |
| 2008 | 100.8 | 116.4 | 0.16% |
| 2007 | 88.0 | 122.1 | 4.24% |
| 2006 | 74.9 | 93.1 | 5.24% |
| 2005 | 73.5 | 84.5 | 4.16% |
| 2004 | 77.1 | 81.3 | 2.16% |
| 2003 | 75.1 | 80.6 | 0.98% |
| 2002 | 69.9 | 82.3 | 1.24% |
| 2001 | 69.6 | 83.8 | 1.82% |
| 2000 | 75.8 | 94.9 | 6.40% |
| 1999 | 79.8 | 95.9 | 5.30% |
| 1998 | 72.3 | 71.5 | 4.68% |
| 1997 | 88.0 | 108.4 | 5.50% |
| 1996 | 99.0 | 123.7 | 5.29% |
| 1995 | 73.7 | 117.9 | 5.60% |
| 1994 | 54.8 | 106.9 | 5.45% |
| 1993 | 49.0 | 75.1 | 2.96% |
| 1992 | 28.6 | 55.3 | 2.92% |
| 1991 | 25.1 | 47.6 | 4.43% |
| 1990 | 24.7 | 40.3 | 7.31% |
| 1989 | — | 38.3 | 8.45% |
| 1988 | — | 34.0 | 8.76% |
| 1987 | — | 32.0 | 6.77% |
| 1986 | — | 27.9 | 6.91% |
| 1985 | — | 28.1 | 8.27% |
| 1984 | — | 33.1 | 8.38% |
| 1983 | — | 37.5 | 9.47% |
| 1982 | — | 34.6 | 8.95% |
| 1981 | — | 32.2 | 12.37% |
| 1980 | — | 23.9 | 18.90% |
| 1979 | — | 12.7 | 13.78% |
| 1978 | — | 9.8 | 10.03% |
| 1977 | — | 9.1 | 6.56% |
| 1976 | — | 9.5 | 4.65% |
| 1975 | — | 9.1 | 5.20% |