Dynamics of the Housing Markets in Hong Kong And Singapore. A Comparison of Two Cities

Comparative housing research has been recognized in many studies as an important means of understanding the nature and dynamics of housing systems. This paper discusses the private and public housing systems in Hong Kong and Singapore as well as the roles played by their respective governments and economies. As Hong Kong is generally regarded as a laissez-faire economy and Singapore is perceived as having a higher degree of government intervention, the paper compares the impact of housing policies and economic influences on the private and public housing markets in both cities. The comparative study reflects the similarities and differences of policy impacts on the Hong Kong and Singapore housing markets with respect to their various market segmentations and dwelling types. From the qualitative discussion, it is clear that the way government initiatives, housing policies and economic performance affect the volatility and dynamics of the housing markets in Hong Kong and Singapore holds interesting and significant implications for public policy decision-making.