Singapore home rents catch up with Hong Kong’s as fortunes diverge

  • Residential rents in Hong Kong and Singapore remain close to parity after the gap shrank dramatically over the past five years, signifying the diverging fortunes of the rival Asian financial hubs
  • In 2018, before Hong Kong was hit by an unprecedented wave of social unrest, the rental gulf between the two cities was as high as 82%, with Hong Kong widely labelled as the world’s most unaffordable housing market.
  • That chasm has shrivelled to about 12.8% in May 23, with average Singapore rents at USD3.80 per sq ft while in Hong Kong rents averaged USD4.28 per sq ft.

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