According to JLL's latest Hong Kong Property Market Monitor, Hong Kong's housing market continued to reach new heights in December, capping off a year that saw capital values advance at their fastest pace in five years. Capital values of mass residential properties increased by 1.3% m-o-m in December to lift full-year growth to 15.8 percent.
Denis Ma, Head of Research at JLL commented, "Despite being at record high levels, we expect housing prices to continue to move higher as we enter the New Year. Market sentiment remains high, as evidenced by strong sales in the government land and primary sales markets, and will be further buoyed by the recent stock market rally. We are forecasting housing prices to increase a further 10% in 2018 but as much as 20% if the current momentum in the market is sustained.
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.
According to JLL's latest Hong Kong Property Market Monitor report, despite lingering uncertainty surrounding the global economy and a slumping local stock market, co-working operators remained a major source of demand in the office leasing market in December last year.
According to International property consultant Knight Frank, the average value of residential property across 57 countries and territories worldwide increased by 4.9% in the year to September 2018, the index's lowest annual rate of growth for two years.