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Singapore beats out Hong Kong for property investment prospects

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

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SINGAPORE (BLOOMBERG) - The fortunes of two of Asia's hottest property markets are diverging.. Read more at straitstimes.com.

Singapore is now ranked No 1 for real estate investment prospects in terms of price increases in 2020. Hong Kong, buffeted by months of violent anti-government protests, has plunged to the bottom of the list from 14th place in 2019.

Over the past few quarters, apartment prices have rebounded in Singapore, signaling resilience in the residential market, while the office sector has largely absorbed the oversupply. Australia also registered a rise, with deals increasing 3 per cent to almost US$12 billion. More broadly, capital inflows into property from the US and Europe to Asia Pacific dropped amid trade war concerns, touching the lowest since 2012 in the second quarter.

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