Hello World! Welcome Friends! You’ve probably heard about the battle of the two tigers. It’s a story about two city-states, both in Asia, trying to topple each other. The biggest battle has been waged in the property market. Singapore and Hong Kong have been at each other’s throats ever since the massive growth in the 60s occurred. They are so similar yet so different. It’s almost too difficult to describe. Singapore has less landmass but it’s not so heavily built up as Hong Kong. Hong Kong, on the other hand, has much of its land covered in skyscrapers rather than homes. So the real question is, why has Singapore just delivered a vicious body blow to Hong Kong and became the top dog in the property market between the two?
The Continued Unrest
As you have gathered, Hong Kong is in the midst of serious political turmoil. A bill in the Parliament has caused incredible strife among millions of people. Although the bill has been withdrawn, the protests and the violence against the citizens is ongoing. It’s been continuing for almost half a year with no end in sight. That’s one of the major reasons, if not the major reason why foreign investment has all but slowed to a trickle. On top of this, speculation over China forcibly infiltrating Singapore’s economy. This has made many people become a little hesitant to thrust their money into the city-state for fear of their wealth and property being confiscated or controlled in the future.
A Healthier Place to Live
Hong Kong is a business and banking giant. It also has the sixth-largest stock exchange in the world, handling around $3.7 trillion. However, residents do not live in a healthy place. The pollution levels are inferior to those of Singapore and it doesn’t look like it’s going to be improved anytime soon. The biggest issue is, Hong Kong has so many skyscrapers, shops and businesses so close together. You have to see it to believe it. It’s a very cramped city and there’s no sign of slowing regarding new buildings being built.
Singapore, on the other hand, does have a more residential feel to it. The south of the city-state is open, wide and has plenty of room for leisure and activities. The southern waterfront has beaches, cafes, and parks. This means customers can enjoy a greater quality of life. Singapore also has better clean air and that’s partly due to the fact that the country is split into business and residential districts. Even though there’s less landmass, there’s more livable space.
Taking it Slow
Singapore has a better approach to property. It’s keen on building more apartments but it does so in estates. These are essential, high-rise condo and flat complexes. Therefore, there’s more room to add amenities at ground level rather than inside the buildings themselves. Take a look at the HDB BTO options. You can have an apartment made to order and it will only take around 3-4 years to build from scratch. There are numerous boroughs and estates to choose from. If you would rather live a little further from the city center then pick from the plethora of suburban estates. If you would rather be closer to the action, you can choose a cutting edge apartment nearer the center. Non-mature and mature estates are on offer. Brand spanking new apartments will cost a little more but they will have the latest decor, technology, and amenities.
Connected Worldwide
Hong Kong has around 2 million more people than Singapore. However, Singapore has a larger economy. This is due to its ability to trade with the rest of the world. Hong Kong is open to the sea, but there aren’t as many ports and shipping lanes open to its shores. This is for a number of reasons. China does patrol the seas for it, and it also restricts some ships from coming into port. Singapore, on the other hand, has no such culture. In fact, standing at the southern beaches, you can see cargo ships unloading their freight haul with the naked eye. It’s little wonder that the economy is around $60 billion in front of its rival despite a smaller workforce. When the economy is going great, you have greater investment and thus, property prices become more lucrative.
Singapore has always been an incredible city-state. Its economy punches far above its weight. With just 5.6 million people, it has been able to create almost a half-trillion-dollar economy. It’s beaten out it’s rival in the property market, at least for now. It’s the best time to invest in modern apartment estates if you’re looking eastward.
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