Singapore property market may reach bottom before HK

Singapore

SINGAPORE'S property market may be closer to a bottom than Hong Kong, according to LaSalle Investment Management, which oversees more than US$58 billion in real estate funds.

Governments in Asia's two most expensive residential markets have imposed curbs in recent years to tame prices and improve affordability. As demand has dropped amid a slowdown in the region's economies, home prices in both cities are in the midst of a correction.