{"id":110275,"date":"2019-08-28T10:24:23","date_gmt":"2019-08-28T03:24:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-buyers-prefer-homes-in-malaysia-and-taiwan-over-singapore\/"},"modified":"2019-08-28T11:03:08","modified_gmt":"2019-08-28T04:03:08","slug":"hong-kong-buyers-prefer-homes-in-malaysia-and-taiwan-over-singapore","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-buyers-prefer-homes-in-malaysia-and-taiwan-over-singapore\/","title":{"rendered":"Hong Kong Buyers Prefer Homes In Malaysia And Taiwan Over Singapore"},"content":{"rendered":"


\nAs investors from protest-hit Hong Kong seek out new places to call home, it would appear that many have shunned Singapore due to its higher property prices.
\nThe city-state is particularly expensive when extra costs, such as additional buyer\u2019s stamp duty, are taken into consideration. Since July 2018, foreign home buyers in Singapore pay stamp duty of 20 percent, an increase from 15 percent previously, reported Bloomberg.
\n\u201cPeople here tend to think there are only two cities in the world \u2014 Hong Kong and Singapore,\u201d said Savills executive director of research and consultancy Alan Cheong.
\n\u201cThey think if people flee Hong Kong, they\u2019ll all automatically come to Singapore. But everyone isn\u2019t Li Ka-shing. Most are just ordinary salaried workers,\u201d he noted, referring to Hong Kong\u2019s richest billionaire.
\nWith this, Hong Kong investors turned their attention to Malaysia, Thailand and Taiwan, where property prices were cheaper.
\nCheong revealed that a property in central Kuala Lumpur, Malaysia, for instance, cost RM1,500 (S$495) per sq ft (psf), while a similar apartment in Singapore would be priced at S$1,500 psf or more.
\nThailand is famous for its touristy allure, while Taiwan made the list due to its relative ease of assimilation.
\n\u201cTaiwan is also majority Chinese, so it\u2019s similar, whereas places in the West are attractive for those wanting to get away from China or Asia generally,\u201d said Nicholas Mak, the Singapore-based head of research at APAC Realty.
\nInvestors with deep pockets, however, like Singapore\u2019s active resale market, said Mak. Singapore developers were also considered as more reliable, offering better quality projects.
\n\u201cProfessionals are interested in Singapore because it\u2019s politically stable and safe,\u201d said Centaline general manager David Hui, adding that they are mostly in \u201cfinance or law, or owners of businesses over 35\u201d.
\nLooking to buy a Singapore home but not sure where to start? Get insight on the best locations for your new home with our\u00a0AreaInsider\u00a0Guides.
\nFiona Ho, Digital Content Manager at PropertyGuru, edited this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Hong Kong Buyers Prefer Homes In Malaysia And Taiwan Over Singapore<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As investors from protest-hit Hong Kong seek out new places to call home, it would...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-110275","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sGD","jetpack-related-posts":[{"id":41248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-to-benefit-from-hong-kong-tax-hike\/","url_meta":{"origin":110275,"position":0},"title":"Singapore to benefit from Hong Kong tax hike","date":"January 20, 2017","format":false,"excerpt":"\r Lower stamp duties in Singapore has made the city-state more attractive for Chinese investors. \u00a0 Singapore may benefit from Hong Kong\u2019s recent increase in stamp duty for overseas property buyers, reported Bloomberg. 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