Hong Kong
Kowloon office rents to decline by 1-3% in 2024
Kowloon office rents to decline by 1-3% in 2024
Rents in Kowloon East are forecast to drop by 3-5%.
Grade A office rents on Hong Kong Island down 6.5% in August
And vacancy remained high at 13.4%.
These are the key headwinds in Hong Kong’s retail leasing market
Canton Road saw a significant shift in tenant mix.
Hong Kong home prices hit record lows in 8 years
Meanwhile, residential transactions declined for four straight months.
Hong Kong real estate investments plummet 47% to HK$9.9b in H1 2024
Find out more about some key transactions that took place during the period.
Secondary luxury homes sell at significantly lower prices in Hong Kong
Four homes on the Peak were sold for more than 40% lower than other nearby sites.
Hong Kong to see over 4,000 new hotel rooms for the rest of 2024
Amongst these hotels will be Metropark Hotel Hung Hom with 536 rooms.
Kowloon office leasing transactions up 20% in July
Tenants continue to favour Kowloon East.
Grade A office rents on Hong Kong Island down 2.6% YTD
North Point saw the steepest decline of 9.3%.
What you need to know about Hong Kong’s retail sector
Some large retail shops remain vulnerable in terms of leasing.
Hong Kong property transaction volumes to drop by 19% in 2024
Investments are expected to reach HKD20b in the second half of the year.
Over 1 in 4 Hong Kong office occupiers intend to downsize
Meanwhile, only 19% are planning to expand.
Where do Hong Kong office occupiers prefer to move for their next lease?
Tenants in the CBD are loyal to their current location.
Hong Kong office vacancy rate climbs to 16.6% in Q2
This was driven by the Central/Admiralty area.
Hong Kong prime retail rents to decline by 5-10% this year
Over 10m sq ft of new retail supply will be completed from 2026.
Here are some retail investment opportunities in Hong Kong
These investments offer attractive rental yields despite ongoing challenges.
Hong Kong residential transactions drop 30% to 3,856 in June
Residential prices are not expected to rebound until the mortgage rate falls to about 3%.
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