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Singapore ousts Hong Kong as No. 1 for luxury home-price gains

Property

Singapore ousts Hong Kong as No. 1 for luxury home-price gains

Bloomberg Published on Wed, Oct 31, 2018 / 3:18 PM GMT+8

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(Oct 31): Guess which city managed to top a luxury real-estate ranking despite a slew of cooling measures to tame its property market?

Yes, the tiny island nation of Singapore, nudging out Hong Kong. Luxury home prices rose 13% in the quarter ended Sept 30 from a year earlier, according to Knight Frank LLP’s Prime Global Cities Index. Gains were driven in part by the limited availability of high-end properties.