Expatriates fleeing Hong Kong frustrate Singapore peers as home rents climb at fastest pace in a decade

Expatriates fleeing or relocating from Hong Kong are competing for private residences in Singapore, appeasing landlords while annoying their professional peers as rents jumped at the fastest in a decade.

Rents in core central, overall central and outside central districts in the city state ranged from S$3.20 (US$2.40) to S$4.43 per square foot per month in February, according to Singapore-listed PropNex. That translates into a 10.2 per cent to 11.9 per cent increase on an annual basis.