Commercial Property
BUDGET 2023: Government adjusts ad valorem rates for property sales
The adjustment will help first-time buyers who want to purchase properties.
BUDGET 2023: Government adjusts ad valorem rates for property sales
The adjustment will help first-time buyers who want to purchase properties.
Hong Kong GDP growth strengthens real estate demand
The city’s leasing and sales activity will see a noticeable recovery.
Negative absorption seen in Grade A office market in January
JLL linked this to the Chinese New Year, traditionally a low season.
Dealmaking suffered in 2022 with 41% drop
Trading volume reached US$6.7b.
Real estate investment volumes in APAC to fall 5%-10% in 2023
In 2022, volume declined by 25%.
Foreign investment in Hong Kong’s commercial property still in ‘negative’ territory
The Investment Sentiment Index in the city dropped to -36 from -39.
Grade A office vacancy rate rises to 12.1% in December 2022
New completions pushed the vacancy rate up.
Buildings dep’t approves 13 plans in November
It also gave the green light to start works on 11 building projects.
Investment market in Hong Kong’s retail space ‘quiet’ in 2022: JLL
There were only a handful of lump sum transactions recorded during the year.
Overall office rent declines by 3.7% in 2022: JLL
Vacancy rate in end-December rose due to new completions.
Office space in Lippo Centre, Admiralty on sale for $504m
The asking price is equivalent to $32,000 per square foot.
PwC resigns as China Evergrande Group auditor due to disagreements
The resigned auditor did not receive significant matters in the financial statements.
Mapletree Investments, PAG acquire Goldin Financial Global Centre for US$713 m
The building has a total lettable area of 886,703 sq ft.
Warehouse vacancy up to 3.3% in 2022: Colliers
This is due to the completion of the logistics centre in Tuen Men
Property transaction volumes hit lowest level in 10 years
There were only 101 big deals concluded in 2022.
Retrofitting old buildings will increase rents, tenant satisfaction
JLL research showed that retrofitting old buildings will be cost effective.
Lands Department rejects all tenders for Stanley site
The site received four tenders.
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