Hong Kong

Vacancies also increased in Tsim Sha Tsui and Mong Kok.

This is despite a slow leasing momentum in the quarter.

Rents on Hong Kong Island and in Kowloon inched up 1% and 2.5%, respectively.

The lacklustre activity recently does not bode well for the market.

Following Hong Kong were Sydney and Vancouver.

The Group wins Sustainable Development of the Year - Hong Kong and Mixed-Use Development of the Year - Hong Kong Awards at the Real Estate Asia Awards 2022.

The 11 SKIES project added 1.1m sq ft of new space in Q1.

Grade A office rents are likely to grow by up to 10% this year.

The growth was driven by a number of new launches during the month.

The vacancy rate also declined from 1.5% to 0.9%.

Consumer sentiment is likely to turn positive in the second half of 2022.

More investors are looking for suitable assets for such conversion.

Russell Street in Causeway Bay has transformed over the course of the pandemic.

Rents in Central inched up 0.9% to HK$114.5 per sq ft.

The Grade A office market will provide substantial opportunities for medical occupiers over the next five years.

One of the notable transactions was a house at Villa Cove that sold for HKD125.5m.