Shadow over HK real estate puts Singapore property stocks ahead

Singapore

HONG Kong's property stocks are cheaper than Singapore's, although not cheap enough to account for the risk that the world's least affordable city could have a housing crash.

That is according to analysts and money managers from Nomura Holdings Inc to Janus Henderson Group plc. In Singapore, some are seeing signs of a market bottom after years of home price declines. Hong Kong, where any let-up in government cooling measures looks unlikely in the short term, may be teetering on the edge of a slump, with Morgan Stanley among those seeing a risk of multi-year declines.