Home rents in Hong Kong are predominantly more expensive when compared with Singapore. Yet with few signs of a rebound in the former, Singapore could continue to stand out in 2023 even with a slowdown in growth levels from the 30% surge last year.
Singapore is catching up with Hong Kong’s rental market as the city’s prices are expected to soar on limited supply, while Hong Kong grapples with dwindling appetite from population outflows.
That’s the view of analysts, who say many factors impacting prices in the two cities remain intact. Singapore rents could rise another 10%-15% in 2023, while those in Hong Kong may only post a 5% increase, according to Bloomberg Intelligence estimates.
