Hong Kong
Office rents in Kowloon to rise by up to 3% in 2023
Office rents in Kowloon to rise by up to 3% in 2023
The overall market seems to have bottomed out.
Hong Kong mass residential capital values down 2.7% in November
It was a steeper decline compared to the 1.9% drop the previous month.
What the rise of several core business districts means for Hong Kong
Different industries will dominate districts, creating sector-led hubs.
Hong Kong overall office vacancy rate hits 11.6% in November
The rise was driven by two new completions.
Hong Kong retail street rents to drop by a further 10-15% in 2023
Rent adjustments are not expected to improve vacancy rates.
This new project injected 700,000sq ft of supply to Hong Kong’s prime retail sector in Q3
Its pre-commitment rate is reported to be around 55%.
Hong Kong sees three Grade A office building completions in Q3
All buildings are located in Kowloon East.
Demand for F&B spaces expected to grow in Hong Kong post-pandemic
There were 60 new overseas F&B operators that entered Hong Kong since 2020.
These Hong Kong retail spaces are now being leased for up to 82% lower than their peak rents
Rents in Tsim Sha Tsui and Causeway Bay continue its downward trend.
Hong Kong Island office rents slip 1.4% in October
Rents are expected to drop for the rest of the year.
Hong Kong residential sales drop 18.8% to 3,148 units in October
Primary sales plummeted 53.2% to just 672 units.
Hong Kong property deals almost doubled in Q3
Transaction volumes grew 93% to USD4.4 billion during the quarter.
Why Hong Kong has a long road ahead to achieve sustainable real estate
Only 22% of all existing Hong Kong buildings are green-rated.
Hong Kong’s most significant retail leasing transaction in September revealed
It is a 14,000 sq ft shop in New World Tower in Central.
These firms recently moved to higher quality offices in Hong Kong
Invesco relocated its headquarters to a 33,000sq ft lease in Jardine House.
Hong Kong residential sales down 6.3% to 3,875 units in September
The primary market sales also declined 8.2%.
What’s to blame for Hong Kong’s lacklustre real estate investment demand in Q3?
Only 20 deals worth HK$18.1b were transacted in the quarter.
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