As Singapore Rents Soar, Expats in Hong Kong Bag Bargains

(Bloomberg) — The rental markets of rival Asian financial hubs Hong Kong and Singapore have run into a pronounced reversal of fortunes.

Rents of prime accommodation in Singapore, typically favored by expatriates, have surged to the highest in over a decade, closing the gap with notoriously costly Hong Kong.

The city-state is set for further gains as the country reopens and foreigners flood the market, including Hong Kong residents who have left due to the city’s crackdown on Covid-19 and civil liberties.