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Singapore closes gap with Hong Kong in property deals



Singapore is gaining on Hong Kong in real estate transactions, leveraging its status as a wealth haven, while Hong Kong faces distressed property sales, according to MSCI Real Assets reports. Singapore's 96 property deals this year are close to Hong Kong's 107, marking a significant shift from Hong Kong's 62% drop since 2021. Singapore's market thrives with robust office demand and rising home prices, contrasting Hong Kong's downturn due to pandemic impacts and geopolitical tensions. Key deals include Hong Kong's distressed sale of Goldin Financial Global Center and Singapore's profitable Changi City Point transaction. Singapore's property investments reached USD7.53bn, surpassing Hong Kong's USD5.27bn. Both cities confront fundraising challenges amid high interest rates, but Singapore's appeal as a financial safe haven continues to attract wealthy investors.

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