Pursuits
Singapore Is Crushing Hong Kong in the Race to Cut Home Prices
- Home sales in Singapore slump as Hong Kong sees rebound
- Hong Kong home rally poses headache for chief amid wealth gap
Singapore, Hong Kong Home Prices Diverge
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On the surface, the property markets in Singapore and Hong Kong have much in common. The two Asian financial hubs have both moved to rein in runaway home prices in recent years as they sought to make housing more affordable.
Yet, consider how home values in the cities have diverged. Singapore has been successful in damping buyer demand with curbs (prices slumped by the most in seven years last month), while restrictions have had little impact on Hong Kong’s gravity-defying market, which is rebounding after a short-lived dip.