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26

Singapore Home Prices Have Bottomed, Hong Kong’s Are ‘Crazy’: BNP Says

By Tony Seruga

Prices in Singapore to climb 10%-15% in next 12-15 months: BNP
Chinese buyers to fuel Hong Kong gains, but no bubble risk

Singapore home prices have reached a bottom and will rebound, while Hong Kong’s “crazy” housing market will continue to defy gravity, according to BNP Paribas SA.

“Very significant” income growth will drive the first leg of a recovery in home prices in Singapore, where property ownership as a proportion of household assets is near a record low, BNP’s Asia-Pacific head of research for financial institutions and property Wee Liat Lee said in an interview while visiting the city-state. That will boost prices by 10 percent to 15 percent over the next 12 to 15 months, in turn luring foreign buyers, especially from China, Lee said…

Singapore Home Prices Have Bottomed, Hong Kong’s Are ‘Crazy’: BNP Says

Categories : Real Estate

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