Commercial Property
Overall office rent declines by 3.7% in 2022: JLL
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.
Two sites for sale via public tender
Tender invitations for both lots start on 13 January.
Analyst wary for Hong Kong’s commercial real estate market recovery
Interest rate hikes and higher costs of capital can make the market go over the edge.
International auction house to open exhibition space in Hongkong Land’s central portfolio
Sotheby’s will cover nearly 24,000 square feet in Landmark Chater.
Office rents to decline 3%-5% in 2023: report
The demand will remain sluggish due to global and local economic situations.
Retail street rents to decline 10-15% YoY in 2023
Retailers are not optimistic about the sector’s outlook, according to Knight Frank.
Rising interest rates, weakening economy dampen residential property demand
Residential sales were down 18.8% MoM in October, according to the Land Registry.
Grade-A Office rents down 1.8% MoM in October
The downward rental trend will continue for the rest of 2022.
Hong Kong’s construction prices remained steady: JLL
The average fit-out cost is US$130 per sqft.
Non-industrial site in Kwun Tong sold for $296m
It was awarded to Topco (H.K.).
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