20 Feb '17, 2pm

New: 4 Reasons Why Hong Kong’s New Stamp Duty Can’t Save Singapore’s Property Market https://t.co/6Puioftdvy

By Property Soul (guest contributor) Bloomberg recently published an article on how ‘Hong Kong Property Tax May Help End Singapore’s Housing Slump ’ (Bloomberg, Jan 19). The journalist cites the remarks of a Cushman & Wakefield spokesperson that foreign buyers may turn to Singapore after the 15 percent increase (30 percent in total) of stamp duty in Hong Kong. This can benefit Singapore by ending the slide of property prices this year, especially when the Chinese are looking for a safe haven to park their money due to a weakening Renminbi. The herd of local business and property media, including Business Times, Singapore Business Review, Yahoo News, PropertyGuru, The Edge Property and Property Report, immediately picked up this piece of ‘good news’ without much thought and came up with similar headlines of ‘Singapore to benefit from Hong Kong tax hike’, ‘Hong Kong’s loss i...

Full article: https://www.propwise.sg/4-reasons-why-hong-kongs-new-stam...

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