Hong Kong and Singapore fight it out for which will be Asia’s top global property market. Prices got so high in both cities that their governments stepped in to engineer a slowdown, instituting cooling measures like a high stamp tax and prohibiting foreign investment. As a result, in 2014 Singapore dropped 3% while Hong Kong only increased by 6.3 %. HK is the financial center of China and holds great appeal for foreign investors, who are waiting on the sidelines for taxes to fall.
I will be in Hong Kong checking things out next week and will report back!
Read the entire article at How to Spend It.
