Commercial Property
Kum Lam Building up for sale via expression of interest
The property’s estimated worth is $230m.
Relaxation of measures unable to lift real estate investment sales: Savills
In Q4, commercial investment volumes contracted by 44.3% YoY.
Hongkong Land underlying profit fell 20% in FY 22
It declined due to lower contributions from development assets.
Property sales soar 35.1% MoM in February
Year-on-year sales increased by 49.6%.
HK is 5th top market for super and ultra-prime properties
It is one of the two markets in Asia that made the top 10.
Hongkong Land’s flexible office space reach 90% occupancy rate
Centricity Flex lured diverse financial and professional services tenants.
Expert sees little chance of relaxation on property cooling measures
JLL, Colliers, and CBRE weigh in on the latest budget measures for property.
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.
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