Here's how Singapore has been more successful in curbing home prices than HK

Singapore private home prices fall most in seven years in Q3.

On the surface, the property markets in Singapore and Hong Kong have much in common. The two Asian financial hubs have both moved to rein in runaway home prices in recent years as they sought to make housing more affordable
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Yet, consider how home values in the cities have diverged. Singapore has been successful in damping buyer demand with curbs (prices slumped by the most in seven years last month), while restrictions have had little impact on Hong Kong’s gravity-defying market, which is rebounding after a short-lived dip.

Singapore’s public housing model offers one explanation for how the island-city has been able to keep a tight leash on prices. Homes owned under a program run by the Housing and Development Board accounted for 80 percent of all dwellings as of last year. Hong Kong’s public housing accounts for only about 21 percent of total home ownership, and there is an average waiting list of more than 3 years to get a government flat in the city.

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