Published:
Leasing momentum in industrial market subdued in 1Q16
And merchandise trade performance remained bad.
It has been noted that in Hong Kong's industrial market, merchandise trade performance remained negative under sluggish global demand.
According to a research note from CBRE, total value of trade in goods decreased by 8.2% in January and February combined, the worst since 2009.
Further, the report said overall leasing momentum was subdued. Some landlords became more flexible and sought to speed up the leasing process.
Meanwhile, warehouse vacancy rose to 4.4% due to new supply from Mapletree Logistics Hub. The property received its Occupation Permit in late March with 37% of space pre-leased.
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