HK beats S’pore in of­fice rents

New Straits Times - - Business -

Hong Kong’s of­fice rents are al­most three times more ex­pen­sive than those in Sin­ga­pore as prop­erty mar­kets in two of Asia’s largest com­mer­cial cen­tres have di­verged sharply in re­cent years. The spread had boosted Sin­ga­pore’s ap­peal as a com­pet­i­tive busi­ness hub, said Cushman & Wake­field Inc. Scarce sup­ply in Hong Kong’s Cen­tral area has helped push rents higher, while the sit­u­a­tion has been just the re­verse in Sin­ga­pore, which is grap­pling with an am­ple sup­ply in ar­eas in­clud­ing the Ma­rina Bay fi­nan­cial district.

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