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Singapore raises tax for property purchase to cool booming housing market

Singapore’s government has decided to hike taxes for property purchases in a bid “to promote a sustainable property market.” Demand from locals purchasing homes for owner-occupation has been especially strong in the first quarter of 2023, and there has also been renewed interest from local and foreign investors in the city-state’s residential property market. “If left…

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Slump in Hong Kong’s home prices to continue in 2023

Hong Kong’s home prices have plenty further to fall amid rising borrowing costs, a recession and an exodus of residents, analysts say. Residential prices are expected to decrease by 12% next year and 2% in 2024, taking the drop from the peak in late 2021 to 25%, Natixis analysts led by Alicia García-Herrero, chief economist…

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