Commercial Property
Kowloon properties collectively sold for $2.14b
Kowloon properties collectively sold for $2.14b
The transactions showed that developers are keen to buy and redevelop old buildings.
West Kowloon site up for sale
The public tender will open on 20 September.
Kowloon properties up for auction with $2.14b reserve price
Total site area is at 19,725 sqft.
Overseas real estate investments fell 31% to $40.79b in H1
Total commercial real estate capital deployed to Singapore hit $10.96b.
Hong Kong prime office rents shrink 1.1% in Q2
Central’s rental rates recorded a 0.2% YoY decline to $161.1 psf monthly.
Hong Kong still top APAC real estate investment market in H1
However, transactions fell 46% YoY to $47.06b.
Central office vacancy rate hits three-year high of 2.6% in July
The occupier market contracted to 56,100 sqft due to subdued leasing demand.
Far East Consortium unit clinches Kai Tak site for $2.45b
It is designated for non-industrial use.
Central still the world's priciest office market for fifth consecutive year
Occupancy costs run at $2,665.8 psf per annum.
The Great Room debuts at One Taikoo Place
The 24,000-sqft premium co-working space targets established corporates.
Grade-A office rents in Hong Kong Island up 1.2% in June
Tenants snapped up office spaces sized over 15,000 sqft.
Grade A office net absorption slumps to 139,500 sqft in June
Rents also fell 0.3% MoM to accelerate space backfilling.
Commercial property deals dropped 6.2% to $2.1b in Q2
The office sector continued to drive property investments, accounting for 53% of the total transaction volume.
High street retail rents slipped 0.1% in Q2
Most new leases were by mid-range retailers in the personal care and sporting goods categories.
Industrial vacancies dropped to 1.7% amidst weaker leasing momentum in Q2
Warehouse rents edged up 0.5% QoQ despite the downbeat trading outlook.
Office rents fall for first time in five years in Q2
Leasing costs fell 0.4% led by declines in Central and Wanchai/Causeway Bay.
Non-residential property transactions nearly halved in H1 over weak investor sentiment
There were only 475 commercial transactions from January-April 2019.
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