Chart of the Day: Check out how the increasing unemployment rate can affect property prices in Singapore

Unemployment rate in Q3 is at 3.1%.

As more Singapore citizens find themselves with no jobs, private property prices are expected to fall.

According to DBS Vickers Securities, the property market is slated to move in two gears: with prices in the core central region (CCR) bottoming out while prices in the rest of central region (RCR) still reporting declines of up to 5% going forwards.

However, the recent macroeconomic data showing a sharper-than-expected slowdown in Singapore economic growth at 0.6% in 3Q16 and the rise in unemployment rate among city-state residents at 3.1% could make property prices stuck in the doldrums.

Based on the graph, while Singapore unemployment rate is on the rise, property prices continue to slump.

"We note that the worsening outlook of both data-points might result in weaker-than-expected prices," the brokerage firm said.