Hong Kong-Singapore Builder Slump to Deepen: Chart of the Day
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Property developers in Hong Kong and Singapore will extend the biggest declines among global peers as government curbs deter buyers in Asia’s most expensive housing markets, according to AMP Capital Investors.
The CHART OF THE DAY tracks Hong Kong’s Hang Seng Property Index, Singapore’s FTSE Strait Times Real Estate Index and the Standard & Poor’s 500 Real Estate Index. The two Asian gauges sank to their lowest levels in at least 17 months last week. Home prices have dropped 4.3 percent from their high in Hong Kong, according to Centaline Property Agency Ltd.’s index. They fell 0.9 percent in Singapore last quarter, official data shows.