Singapore top choice for Hong Kong real estate investors in first half of 2019: Report.
SINGAPORE - Lured by Singapore's stable political environment and relatively strong office rentals, Hong Kong investors pumped a total of US$1.4 billion (S$1.94 billion) into the Republic's real estate in the first half of 2019.
This accounted for more than a quarter of the US$5.2 billion in total outbound real estate investment from Hong Kong during the period, making Singapore the top destination, Cushman & Wakefield Research said in its latest report on Greater China outbound investments released on Tuesday (Aug 27).
"Some of these Hong Kong investors and funds have been active in Singapore for some time, but the political situation in Hong Kong has coincided with more high-net-worth-individuals and family offices from Hong Kong inquiring on potential purchases," said Christine Li, head of research for Singapore and South-east Asia at Cushman & Wakefield.
Adapted from The Straits Times 27 August 2019