Bubble forming in Singapore property
(SCMP.com)
Singapore's economy grew the fastest in Asia last year at 14.7 percent. Commensurately, property prices in Singapore rose beyond sustainable levels driven by low interest rates and excessive liquidity. This has prompted the Singapore government to take measures to prevent a real estate bubble including 5X stamp duties for owners who sell property if held less than 4 years. Maximum loan amounts for individuals has decreased from 70 percent to 60 percent.
Hong Kong most expensive city
According to Savills, Hong Kong is now the most expensive city to buy a home for everyone from white collar staff to billionaires. Property prices in Hong Kong were 55 percent higher than London in 2010. This is driven by negative real interest rates and demand from Mainland China.
1 comment:
It's incredible Hong Kong prices are so high however with such limited space it's not surprising. It's a valuable place to be based though making it a highly desirable investment location in my opinion
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