<p>The fortunes of Singapore and Hong Kong &ndash; two of Asia&rsquo;s hottest property markets &ndash; are going in different directions, reported Bloomberg citing a Urban Land Institute and PricewaterhouseCoopers LLP report.</p>

<p><strong>Singapore now claims the top spot for real estate investment prospects&nbsp;in terms of price increases in 2020. Hong Kong, rocked by months of violent political protests, has fallen from 14th place to the bottom of the pile in 2019.</strong></p>

<p>Hong Kong&rsquo;s drop to the least-favoured destination for real estate investment next year is due to its retail and tourism sectors taking a beating, affecting economic growth.</p>

<p>The city-state has benefited from a surge in interest among investors who are steering clear of Hong Kong and China, which are viewed as &ldquo;geopolitical flashpoints&rdquo;.</p>

<p>For the past few quarters, apartment prices in Singapore have rebounded, showing resilience in the residential market, with the office sector mostly absorbing the oversupply.</p>

<p>Hong Kong&rsquo;s problems bode well for Singapore, at least for a little while, according to Urban Land Institute CEO Ed Walter.</p>

<p>&ldquo;A lot of theory in investing is less about what was, versus what is or what is going to be,&rdquo; he added.</p>

<p><strong>Singapore also saw a rise in property transactions in the first half, with majority of the activities driven by cross-border capital. Deals amounted to $4.9 billion (S$6.6 billion) in the period, a 73% year-on-year growth.</strong></p>

<p>Walter described Hong Kong as having a &ldquo;very resilient market&rdquo;, backed by its high property prices. He believes that after the protests, sectors such as retail can recover quickly.</p>

<p>&ldquo;The bigger issue is what happens from a political perspective and what does that signal about Hong Kong&rsquo;s place as a financial centre,&rdquo; he said.</p>

<p><strong>Singapore placed second-to-last among 22 centres as recently as 2017, overtaken by cities such as Sydney, Tokyo and Bangalore as vacancies rose and rents dropped. In 2017, Hong Kong placed 18th.</strong></p>

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