Singapore and hong kong "most costly" markets in asia

Singapore and Hong Kong are the "most costly" property markets in Asia for overseas investors, according to Knight Frank.

The agency has compared the markets in Asia in terms of expense for foreign buyers, finding that Singapore and Hong Kong are not only more expensive in terms of prices, but also carry a biggest tax bill compared to their neighbours. Indeed, both nations have introduced significant cooling measures in recent years as a deterrant to speculative investors intending to flip properties for quick profit.

The 15 per cent Buyer's Stamp Duty in Hong Kong and the 15 per cent ADditional Buyer's Stamp Duty in Hong Kong and Singapore respectively combine to make the pair more expensive than markets such as Cambodia, Japan and Malaysia.