Hong Kong investors shun Singapore for homes in Malaysia, Taiwan

  • 📰 YahooSG
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 71%

Singapore Headlines News

Singapore Latest News,Singapore Headlines

Hong Kong investors shun Singapore for cheaper homes in Malaysia, Taiwan. YahooFinance

“People here tend to think there are only two cities in the world -- Hong Kong and Singapore,” said Alan Cheong, a Singapore-based executive director of research and consultancy at Savills Plc. “They think if people flee Hong Kong, they’ll all automatically come to Singapore. But everyone isn’t Li Ka-shing. Most are just ordinary salaried workers,” he said, referring to Hong Kong’s richest billionaire.

Singapore is particularly expensive when extra costs, like additional buyer’s stamp duty, are factored in. Foreigners buying residential property in the city-state since July 2018 pay additional stamp duty of 20%, up from 15% before the government cooling measures were introduced. “Taiwan is also majority Chinese, so it’s similar, whereas places in the West are attractive for those wanting to get away from China or Asia generally,” Mak said.

Leong said that based on the feedback received, Hong Kong buyers are attracted to Malaysia due to the country’s “tropical weather, cleaner air, good education system, attractive properties and mix of Asian values and Western infrastructure.” “Professionals are interested in Singapore because it’s politically stable and safe,” said David Hui, a Hong Kong-based general manager at Centaline who was at the Sunday event. They’re mostly in “finance or law, or owners of businesses over 35.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong investors shun Singapore for homes in Malaysia, Taiwan[SINGAPORE] Singapore's housing market isn't turning out to be the beneficiary many may have thought from Hong Kong's increasingly fraught protests. Instead, investors are looking to cheaper property markets like Malaysia, Thailand and Taiwan. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Chinese diplomat says Hong Kong facing worst crisis since 1997 handoverSHANGHAI: Senior Chinese diplomat Wang Yi told a Hong Kong business delegation that more support should be given to the city's government to end ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

The richest family in Hong Kong has the most to lose from raging protestsThe Kwoks, who built Sun Hung Kai Properties Ltd. into Hong Kong’s largest developer and control a $38 billion fortune, has much more riding on Hong Kong as the city grapples with the worst political crisis in decades.
Source: YahooSG - 🏆 3. / 71 Read more »

'Now or never': Hong Kong protesters say they have nothing to loseExasperated with the government's unflinching attitude to escalating civil unrest, Jason Tse quit his job in Australia and jumped on a plane to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Hong Kong good citizenship applications jump as people eye exit[SHANGHAI] Applications for Hong Kong good citizenship cards jumped almost 50 per cent the first two weeks of August from a year earlier, in a sign residents may be more seriously contemplating leaving the city. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Hong Kong: Stocks open higher on Wednesday[HONG KONG] Hong Kong stocks started Wednesday with gains after taking a hit over the previous two days on China-US trade uncertainty and worries about protests that have gripped the city for months. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »