Hong Kong's property funds finally became alive and kicking in 3Q14

Here's what could've caused this activity.

Built on the improved sentiment from Q2 2014, Hong Kong's investment market has continued to show signs of positive momentum.

According to a research note from CBRE, property funds, which have stayed relatively quiet in the past few quarters, became more active again in Q3 2014.

Despite the fact the the Double Stamp Duty remained in place, most funds still classified Hong Kong as one of the key cities for medium-to-long term investment while considering the balance between risk and return.

Here's more from CBRE:

For instance, a Singapore-based institutional fund expanded their portfolio in Hong Kong by purchasing a number of properties in various sectors, most notably five office floors in Kowloon Commerce Centre Tower B in Kwai Chung.

The floors were sold at HK$1.1 bil (HK$8,788 per sq ft GFA), wherein a large portion of the premise is occupied by Bank of America Merrill Lynch until the end of 2019.