According to international property consultant Knight Frank, global housing markets defied the odds in Q2 of 2022. While many expected a notable slowdown in the second quarter of 2022, both in terms of the index's overall performance, and in relation to the number of countries seeing house price declines in annual terms. Neither materialized.
Much weaker commercial real estate investment volumes in the second quarter of 2020 reflect the impact of lockdown measures and border controls enacted to combat the COVID-19 crisis.
The global economy has been badly hit by the COVID-19 pandemic as it hindered economic activities and travels between countries.
A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.
According to JLL's latest Hong Kong Property Market Monitor, rents in the overall Grade A office market continued to rise albeit at a slower pace last month. Average rent of Grade A office climbed 0.5% m-o-m in October, compared to a 1.0% m-o-m growth in September 2018.