In Focus

About 78% of those surveyed said they are also having access issues to materials.

Amongst the hardest hit was retail, recording a 6.8% QoQ drop in high street shop rents.   It may take a longer time before things get better for the commercial property market, as the fifth wave slowed down its path to recovery.

Rents for major shopping centres also fell by 4.3%.

Industrial and retail sectors saw the highest investment volume.

Whilst 57% see their revenue will remain the same or grow in the next three months.

The fifth wave has significantly slowed down the property market in Q122.

In January, retail sales value jumped 4.1%YoY to $33.9b.

International travel recovery will be delayed up to 2023.

Net absorption in February was 276,500 square feet.

Hong Kong will also shorten the hotel quarantine period for arrivals.

Hong Kongers were asked about tax-deductible solutions and only answered 4 out of 14 correctly.

Despite this, strong parent support and low leverage are expected to mitigate its potential impact. 

Companies are expected to weather out disruptions for up to 6 months.

This is against the backdrop of an era-defining hybrid phenomenon, IWG said.

Office property investment in Hong Kong only brought in $2.3b in 2021.

Survey respondents also saw Hong Kong as a gateway to mainland China.