Singapore’s leading property website expects to cash in on an influx of house-hunters from Hong Kong, as expatriates fleeing the Chinese city’s strict Covid measures race to secure prime residences in its rival financial centre.
The chief executive of PropertyGuru, which in March completed a New York listing backed by billionaires Peter Thiel and Richard Li, said the Hong Kong exodus was driving up prices in Singapore’s most in-demand neighbourhoods.
“In pockets, it’s a high-demand, low-supply market, for sure. If you wanted a [house] along [central area] Bukit Timah near the British school, you’re screwed,” chief executive Hari Krishnan said in an interview.
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