April 12, 2019
This comes despite the government’s introduction of new cooling measures last year which saw property price growth drop a little.
Hong Kong maintained its top position as average homes there cost US$1.235 million or US$2,091 psf, while average homes in
US$874,372 or US$1,063 psf.
“As a financial hub,
Singapore is known for its skilled
talent, ease of doing business, top-notch infrastructure, as well as economic
and political stability. Singapore
has always been an attractive location for multinational companies to establish
their regional headquarters. These factors influence the cost of property
ownership in the city,” said Desmond Sim, head of research for CBRE in Southeast Asia.
The report, however, noted that average price growth in
Singapore was slower at 1.1 percent, compared to
the 5.5 percent growth registered in Hong Kong and 11.2 percent in Shanghai.
The report revealed that these three top cities have all introduced cooling measures to keep prices under control.
“Coupled with increasing supply and weaker sentiments, prices are likely to moderate or remain flat from this year going forward,” he added.
Other Asian cities in the top 10 list are Shenzhen and
Beijing, which were in
5th and 9th place respectively.
Completing the top 10 list are
(4th), Los Angeles (6th), New
York (7th), London (8th) and Paris (10th).
Info courtesy – Property guru