- May 1, 2011: Vol. 3, Number 5

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A Tale of Two Cities: The Office Markets of Hong Kong and Singapore Offer Attractive Options to Investors

by Andrew Moore and Dougie Crichton

An economic snapshot of Hong Kong and Singapore shows that they have more than regained the ground they lost during the global financial crisis. In 2010, GDP grew by almost 7 percent in Hong Kong and unemployment fell to around 3.5 percent, while in Singapore GDP growth was more than 14 percent and the unemployment rate fell to almost 2 percent. Business sentiment is generally good For example, 91 percent of companies surveyed by the British Chamber of Commerce in Hong Kong are confident about the economic outlook for the next three years, and Singapore-based firms have positive hiring expectations, according to the latest survey by Hudson, an executive recruitment firm. The two cities’ prospects are looking bright, therefore, with economic growth forecast to maintain historically sustainable levels, in the order of 4 percent to 6 percent per year. Hong Kong, as a special administrative region in China, and Singapore, a city-state with big neighbors, benefit geographically from â€

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