October 2019


Hong Kong luxury residential rents slip in Q3, with leasing demand holding up surprisingly well

Hong Kong luxury residential rents slip in Q3, with leasing demand holding up surprisingly well

28 October 2019

Hong Kong – 28 Oct 2019 Prominent real estate advisor Savills pointed out that luxury apartment rents in Hong Kong Island, Kowloon and New Territories experienced falls which were larger than those of previous quarters, down by 1.6%, 3.6% and 3.1% respectively, compared to 1.0%, 0.8% and 2.5% in Q2/2019. There is a sense that continuing unrest will eventually impact Hong Kong’s appeal as an overseas posting, however, the finance and professional services sectors have so far experienced less disruption and tenant demand from this quarter remains firm for now.

 
 
Hong Kong luxury residential sales volumes dwindle while prices moderate

Hong Kong luxury residential sales volumes dwindle while prices moderate

24 October 2019

Hong Kong – 24 Oct 2019 Prominent real estate advisor Savills pointed out that while recent social unrest and worsening economic conditions have cast a cloud over the housing market in general, mass residential volumes have held up well thanks to buoyant primary sales over the first eight months of the year. The implementation of a vacancy tax by year-end should accelerate launches of backlog units as well as new projects, maintaining market momentum.

 
 
Hong Kong commercial property prices take a hit in Q3

Hong Kong commercial property prices take a hit in Q3

17 October 2019

Hong Kong – 17 Oct 2019 Prominent real estate advisor Savills pointed out in its Q3 Investment Briefing that a volatile economic and social backdrop saw non-residential transaction volumes collapsing by 57% in July and August following a 48% YoY decline in the first half of the year. Local disruption is compounding the negative consequences of the trade war and hitting commercial volumes hard, but retail prices only adjusted mildly compared to the dramatic decline in retail rents; while the office sector saw a rapid decline in buyer appetite.

 
 
Hong Kong warehouse rents fall for the first time since 2016

Hong Kong warehouse rents fall for the first time since 2016

16 October 2019

Hong Kong – 16 Oct 2019 Prominent real estate advisor Savills pointed out in its Q3/2019 Industrial Briefing that in contrast with the weak general market, the industrial investment segment is proving to be relatively resilient thanks to redevelopment interest. The leasing market, however, recorded a rebound in vacancy rates and a mild fall in rents. The firm believes the new air freight safety regulations have boosted the space needs of air freight forwarders, though this new demand is expected to be short-lived.

 
 
Lofty living on offer at A+ Scottish property development

Lofty living on offer at A+ Scottish property development

16 October 2019

Hong Kong – 16 Oct 2019 A historic school building in the heart of Edinburgh is being transformed – offering property buyers and investors a range of contemporary loft style apartments.

 
 
Hong Kong retail sector faces harshest conditions since SARS

Hong Kong retail sector faces harshest conditions since SARS

15 October 2019

Hong Kong – 15 Oct 2019 Prominent real estate advisor Savills pointed out that the retail sector has borne the brunt of the corrosive effects of the trade war and the damaging impact of the social unrest on visitor numbers. Looking ahead, without a resolution in sight, the current market conditions could prevail into next year and it is worth remembering that the negative impact of the Occupy Movement was felt for at least 12 to 18 months, yet day trippers are expected to be the first to return if things were to return to normal.

 
 
Hong Kong Grade A office rents dip in Q3 while fundamentals remain sound

Hong Kong Grade A office rents dip in Q3 while fundamentals remain sound

14 October 2019

Hong Kong – 14 Oct 2019 Prominent real estate advisor Savills pointed out that the positive rental growth of Hong Kong’s Grade A office ended its seven-consecutive-quarter run abruptly in Q3 with overall rents falling by 1.0%; while the vacancy rate remained low (3.8%). All sub-markets saw a drop except Kowloon West where rents remained unchanged. On a positive note, Mainland firms remain committed to Hong Kong, even if some multinationals may be weighing up other regional alternatives. New supply over the next five years will be focused in Kowloon East and fringe island while 2023 will see major new projects completing in Central.

 
 
Launch of The Sky Residences at One Bishopsgate Plaza, London

Launch of The Sky Residences at One Bishopsgate Plaza, London

03 October 2019

Hong Kong – 3 October 2019  This October, UOL Group Limited (UOL), one of Singapore’s leading public-listed companies with total assets of USD$15 billion, is launching its maiden project The Sky Residences at One Bishopsgate Plaza, a new development in the heart of the City of London. The residences will be showcased across five Asian markets from mid-October.

 
 

Key contacts

Olive Jiang

Olive Jiang

Senior Manager
Marketing & Communications

Two Exchange Square

+852 2842 4409

 

Savills Research

City lowdown: Shenzhen
China’s dramatic growth since beginning economic reforms can be summed up in a single word: Shenzhen.

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