Residential sales are anticipated to fall sharply in the short run, as new projects slated for sales will likely be postponed when the third wave of COVID-19 continues to hit the city.
Global property consultant JLL is reporting this week that the full impact of the COVID-19 pandemic was felt deeper in Asia Pacific real estate markets in the second quarter of 2020 than the previous quarter.
Capital values of mass residential remain resilient in H1 2020, but the rising unemployment rate will weigh on housing prices by the end of this year.
The primary growth node in the Greater Bay Area (GBA) as its concentration of highly innovative and technically-advanced industries could help stimulate economic development.
A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.
Hong Kong's luxury residential market gained momentum in May as quantitative easing started to take effect after a relatively quiet period since Christmas/New Year
Hong Kong's Central's Grade A office rents fell 2.7% to HKD 102.4 per sq. ft in May 2020 as the vacancy rate reached 5% for the first time since the Global Financial Crisis in 2008.
As businesses prepare to return to the office amid an easing of lockdown restrictions across Asia Pacific, many are considering how their corporate real estate portfolios should look in the 'new normal'.
According to JLL's latest Residential Market Monitor Report, Hong Kong's luxury residential properties face a double whammy from the weakening leasing and buying demand.
The price fall in mass residential is milder than that of office and retail during the market downturn.
According to JLL's latest Property Market Monitor, while Hong Kong's COVID-19 outbreak was showing signs of stabilization towards the end of April, office-leasing demand remained relatively weak. New lettings contracted by 14% month-over-month.
Hong Kong's unemployment rate has increased progressively to a nine-year high amid the COVID-19 pandemic and social tension. The rising unemployment rate in the city is putting pressure on local housing prices.
Only 40 apartment flats from two new mass residential projects have been launched in the primary market one month after the Chinese New Year (January 25, 2020), compared to the past three years' average of around 530 flats.
According to global property consultant Knight Frank's latest Wealth Report 2020 reveals that private capital was responsible for $333 billion of all commercial real estate purchases in 2019, a 5% rise on the previous year.
U.S. net-lease investment reached record highs in 2019, with investors increasingly attracted to opportunities in high-growth secondary and tertiary markets.
Central's Grade A office rents dropped the sharpest among Hong Kong's core business districts as its vacancy rate reached 4% in January 2020, the first time in more than five years.
Global property consultant JLL is reporting this week that worldwide commercial real estate investment volumes increased by 10% in the fourth quarter of 2019, to $245 billion. This brought full-year activity to $800 billion.
With the longest global economic expansion on record, international commercial property investors now face an increasingly complex calculus.