April 2019


Hong Kong modern warehouse vacancy remains frictional

Hong Kong modern warehouse vacancy remains frictional

29 April 2019

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 investment sentiment rebounds in Q1

Hong Kong investment sentiment rebounds in Q1

28 April 2019

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 residential leasing market saw the rise of townhouse rents, Kowloon’s appeal and local appetite in Q1

Hong Kong residential leasing market saw the rise of townhouse rents, Kowloon’s appeal and local appetite in Q1

25 April 2019

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 office leasing rental momentum continues in Q1

Hong Kong office leasing rental momentum continues in Q1

17 April 2019

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.

 
 
2019 will see stable retail rents and evolving trends in Hong Kong

2019 will see stable retail rents and evolving trends in Hong Kong

16 April 2019

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.

 
 

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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