Not easy to follow HK, S'pore property moves
Other cities don't have same control over economies and residents' behaviour
[HONG KONG] Take a look at the world's dizzying surges in the price of housing for 12 months at the end of June: London, up 20 per cent. Manhattan, 18 per cent. Sydney, 15.4 per cent.
Then there are Singapore and Hong Kong: down 3.7 per cent and 0.6 per cent.
Prompted by concerns over potential property bubbles and affordability for the middle class, the governments of the two Asian cities have been reining in home prices by imposing measures including mortgage caps, taxes on property flippers, and levies on foreign buyers as high as 15 per cent.
"Hong Kong has successfully cooled down the market in terms of transa…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US existing home sales drop in March; median price increases
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty
Freddie Mac seeks regulatory approval to back home-equity loans
China national fined S$45,000 for having Singaporeans front plan to buy East Coast houses
Condo rents inch up after 7-month decline; volumes recover: SRX, 99.co