Jan
18
Hong Kong Property Tax May Help End Singapore’s Housing Slump
By-
Foreigners may turn to Singapore after Hong Kong raises taxes
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Retail rents in both cities pressured by sluggish spending
Singapore’s three-year housing slump could see relief from an unexpected quarter in 2017: Hong Kong.
So says Cushman & Wakefield Inc., which expects the slide in the city-state’s home prices to end this year as foreign investors turned off by Hong Kong’s move to increase the stamp duty for overseas buyers look to Singapore instead. Desmond Sim, head of research for Singapore and Southeast Asia at CBRE Ltd., said Singapore house prices are approaching their trough, with a forecast price move of flat to minus 2 percent…
Hong Kong Property Tax May Help End Singapore’s Housing Slump
