Singapore, Hong Kong look to cool not kill property markets

SINGAPORE/HONG KONG (Reuters) - Singapore and Hong Kong now have identical 15 percent levies to slow the foreign money that has added fuel to their overheated property markets - measures that will help first-time buyers but throw the spotlight on investors' next targets.

The curbs on residential real estate purchases could shift demand to retail and industrial spaces, diverting billions of dollars to those sectors as well as to housing markets in the United States, Canada, Australia and Malaysia.