how economic factor affecting the housing price?comparison between hong kong and singapol
how economic factor affecting the housing price?comparison between hong kong and singapol
Housіng prіce is an essential topic in Hong Kong in the recent years. The housing price index of private domestic units has increased from around 90 at year 2006 to around 340 at June,2017 (Hong Kong Monthly Disgust of Statistics, Census and Statistics Department). It indicated that the price of housing asset has been rising dramatically, and Hong Kong is the most expensive housing markets in 2016 with Median Multiple of 18.1 (Oliver Hartwich, 2016). Meanwhile, the Median Multiple of Singapore is 4.8. One of the most affordable major housing market in the same research. It is interest that there are too different between Hong Kong, and Singapore.
As the political, social, and cultural aspects of Hong Kong and Singapore are similar, the main objective tries to analyse why the housing price in Hong Kong is much higher than Singapore, especially the economic factors, including 1) interest rate; 2) inflation rate; 3) taxes, especially stamp duty; 4) land supply policy; 5) the population; 6) current housing policy; and 7) global economic trend.
