It is common for international property investors to compare how different property markets perform across the world and take their pick from the shortlisted countries. LaSalle Investment Management recently claimed that “Singapore’s property market may be closer to a bottom than Hong Kong”. How true is that? The peak and the pit Prices of properties in Hong Kong have jumped two to three times since their last bottom during the SARS period in 2003. The market didn’t show any sign of softening until September last year. So far housing prices have fallen 13 percent. On the other hand, home prices in Singapore have increased 92 percent since 2003 but have dropped 9 percent from their peak since September 2013. Here is a possible reason behind LaSalle’s statement: Since Hong Kong’s property prices have shot up much higher from their last bottom, there should be more room to adjust ......