Photo by AT from Unsplash

Property investments drop 28% YoY to $37b  in 2023

2023 only saw 65 deals.

The investment market was subdued in 2023, with only 65 major deals worth $37b concluded.

The 2023 record translates to a 28% YoY drop and is also the lowest record since the financial crisis in 2008, according to Colliers Hong Kong.

More than half (57%) of the total investment in 4Q23 was from the office sector, which secured several big deals.

The capital value of general industrial and stratified offices, on the other hand, declined by 0.7% QoQ and 1.0% QoQ, respectively.

Colliers attributed the weakened investment market to the interest rate hikes and slow economic recovery.

In 2024, Colliers predicts a 37% YoY growth to $50b.

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