China Real Estate News
China
Hong Kong Office Market Driven by Upgrading User Demand in 2023
According to JLL's latest Hong Kong Property Market Monitor Report, Hong Kong's Grade A office market is mainly driven by upgrading demand following more new office completions this year.
Cap Rates, Investment Activity in Asia Pacific to Rise in 2023
Based on a new survey by CBRE, capitalization rates in Asia Pacific are likely to continue to rise for the rest of 2023, but investment activity is expected to increase in the second half of the year as cap rate adjustments help close the price gap between buyers and sellers.
The World's Luxury Property Markets Go Negative in 2023
Based on Knight Frank's latest Prime Global Cities Index (PGCI), which tracks prices in 46 leading prime markets worldwide, fell by 0.4% in the 12 months to the end of March 2023. This marks a sharp reversal from a peak of 10.1% growth in the fourth quarter of 2021.
Hong Kong Commercial Property Investments Fall 10 Percent in Q1
According to data and analysis by global real estate consulting firm JLL, commercial real estate investment activity in Asia Pacific contracted by 30% year-on-year in the first quarter of 2023. Investment activity in the region reached USD 27 billion in the first quarter. Hong Kong's commercial real estate investment volume moderated by 10% to USD 1.6 billion (HKD 12.56 billion) during the same period.
