News

"Hong Kong – 06 May 2019 Prominent real estate advisor Savills (Hong Kong) Limited is appointed as Sole Agent for the disposal of Workshop A on G/F, Wang Kwong Industrial Building, No. 45 Hung To Road, Kwun Tong (Property Ref: IND20190101S). The property will be sold by private treaty, and the indicative price is HK$120 million."

"Hong Kong - 29 April 2019 Prominent real estate advisor Savills saw overall and modern warehouse rents increased by 1.6% and 2.6% respectively in Q1/2019. With vacancy remaining tight (1.8% overall and 0.7% for modern warehouses), many tenants chose to renew their leases. The sales market saw renewed interest in en-bloc / majority share deals with reviving sentiment, and industrial prices rebounded across all three subsectors. We expect warehouse vacancy to remain tight with warehouse rents continuing to head north."

"Hong Kong - 28 April 2019 Prominent real estate advisor Savills pointed out that Hong Kong office values have bounced back while street shop prices continue to drift. We saw some green shoots of office and retail price recovery on Kowloon side in Q1/2019, while prices remained largely flat on Hong Kong Island. We expect office prices to rebound across the board, and suburban retail to continue to outperform both in terms of price and rental growth."

"Hong Kong - 25 April 2019 Prominent real estate advisor Savills observed that Q1 was characterised by small movements in rents. The robust townhouse market recorded its largest rental increase (+4.0%) since Q1/2018, while luxury apartment rents were up on Hong Kong Island (+1.0%) and in the New Territories (+0.5%) but fell in Kowloon (-0.5%). Locals still dominated residential leasing enquiries. In terms of new supply, Rosewood Residences and K11 ARTUS in Victoria Dockside, Tsim Sha Tsui will be serviced apartment projects to watch this year."

"Hong Kong - 17 April 2019 Prominent real estate advisor Savills pointed out that the record low vacancy rates (Hong Kong Island: 1.8%; Kowloon: 2.6%) supported the slight rise in office rents over Q1. Central, as the main driver of growth (+2.9%), hit over HK$150 per sq ft per month net effective. Thanks to efficient new transport infrastructure links, tenants now pay more attention to new high-quality buildings, sometimes above location."

"Hong Kong - 16 April 2019 Prominent real estate advisor Savills saw the Hong Kong retail leasing market posted a subdued performance and shopping mall rents rose modestly driven mostly by Harbour City (HK$102 million of retail sales daily in 2018), while street shop rents flatlined. Retail sales over January and February recorded their first decline since February 2017, falling by 1.6%. We expect retail rents to remain stable in 2019."

"Prominent real estate advisor Savills is delighted to announce a total of four award wins at the Royal Institution of Chartered Surveyors (RICS) Hong Kong Awards Presentation and Dinner 2019. Award list is as follows: Winner, Property Management Team of the Year Certificate of Excellence, Best Deal of The Year Certificate of Excellence, Residential Team of the Year Certificate of Excellence, Facilities Management Team of the Year "

"Savills plc, the international real estate advisor, today announces growth in both revenue and underlying profits in 2018."

"Prominent real estate advisor Savills pointed out that despite the full year decline of 2% in luxury residential transaction volumes on Hong Kong Island, a few new launches succeeded in attracting market attention; while Kowloon / New Territories were actually boosted by consistent primary sales, recording a 39% increase in volumes over 2018 as a whole."

"Prominent real estate advisor Savills saw both prime street shop and shopping centre rents remained flat during 2018 and rental growth had all but ground to a halt by Q4/2018 due to a weak sales performance. We forecast retail rents will rise modestly by less than 5% this year but note that 2019 has already got off to a positive start and risks are to the upside."