With capital growth in most prime residential markets around the world shrinking in 2019, the global economic landscape looks markedly different from that a year ago.
The average number of bidders for residential sites in Kai Tak decreased by 67% to just 5.5 in 2019 from two years ago.
Based on new data from global real estate consultancy JLL reveals that Asia Pacific commercial real estate transaction volumes in the third quarter of 2019 have reached a record, bringing the year-to-date activity to a new high of $128 billion.
According to new report from CBRE, global commercial real estate investment volume, including entity-level deals, rose by 7% quarter-over-quarter but fell by 2% year-over-year in Q3 2019.
Global real estate consultant JLL is reporting that several cities in Asia are emerging as competitive real estate markets.
Property developers are speeding up the launch of new residential projects and lower asking prices to maintain sell-through rates ahead of the implementation of the much heralded vacancy tax.
The combined office vacancy rate of Hong Kong's traditional business districts, which includes Central, Wanchai/Causeway Bay and Tsimshatsui, rose above 3% for the first time in 5 years in August 2019.
Hong Kong's current political crisis and economic uncertainty could make almost anyone despair for the future of the property market in this Special Administrative Region of China.
Hong Kong's central region office vacancy rate rises to a three-year high as commercial tenants are now delaying expansion plans.
According to commercial real estate advisor CBRE, global commercial real estate investment volume increased from Q1 2019 across all regions but overall fell by 7.5% year-over-year in Q2 2019
According to new research by global real estate consultant JLL, smart city initiatives in Asia Pacific will not reach their potential if they focus on delivering cutting-edge technologies without paying enough attention to the needs and experiences of citizens.
Only two remaining residential sites to be tendered on the Kai Tak runway could enjoy Victoria Harbour views after the government awarded the tender for Kai Tak Area 4C Site 1 site.
According to global real estate consultant JLL, although the US-China trade war has cast a shadow over Hong Kong's economy, the industrial property market continues to be a bright spot.
Rising cost of leasing prime office space accelerated across the globe due to continued economic growth, job gains and limited availability of prime space in certain markets.
According to JLL's latest Residential Sales Market Monitor Report, the price premium commanded by new mass residential flats sized 752 sq. ft and under on Hong Kong Island against the New Territories has narrowed from 90% to 79% over the past five years.
According to global real estate consultant JLL, commercial real estate investment in Asia Pacific was up 14% in the first quarter of 2019, setting a new record of $45 billion in sales volume.
Co-living market is taking off in Asia Pacific as more people migrate to cities for jobs or education opportunities. This is opening up new opportunities for real estate developers and investors around the region.
Based on JLL's latest whitepaper Shenzhen's Tech Prosperity Drives Office Demand, technology companies are spurring global demand for office space, and this phenomenon is particularly pronounced in Shenzhen, China.