Commercial property sentiment falls sharply in 1Q24

It fell by 28%.

Sentiment on Hong Kong’s commercial property market dropped in 1Q24, according to the Global Commercial Property Monitor by RICS.

The 12-month value and rental expectations for Hong Kong commercial properties fell by 40% in 1Q24, whilst the commercial property sentiment index dropped 28%.

Sentiment on occupier demand also declined across various sectors, with the outlook for office demand falling by 41%, whilst industrial and retail dropped by 20% and 21%, respectively.

The slow economic recovery and high interest rates in Hong Kong impacted the sentiment of prospective purchasers and investors. In 2022/23, foreign investors have temporarily lost interest in investing in Hong Kong.

The report also noted that the Hong Kong commercial market's performance in 2024 ties with the Mainland's economic recovery, which has shown no significant improvement yet.

Meanwhile, Hong Kong’s real estate market expects no serious macroscopic changes globally that could negatively impact the global economy.

Follow the link for more news on

RICS

Hong Kong Property

Also Read

Buildings Department approves 7 building plans in September

Hongkong Land’s Q3 profit rises on China build-to-sell completions

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit