The cost of buying, holding, then selling a prime residential property stands at 15% of purchase price, on average, across our 30 global cities. This ranges from just 6% in our Chinese cities, to 65% in the case of Singapore.

Last year, in a bid to manage demand, Singapore doubled its Additional Buyer’s Stamp Duty (ABSD) for overseas buyers from 30% to 60%. By contrast, Hong Kong halved its stamp duties for non-permanent residents, bringing its costs in line with the world city average. This marked the first time in over a decade that such measures have been cut, and aim to stimulate a market that has cooled significantly in the last five years.

_{Read the other articles within Savills Prime Residential Index: World Cities below}