And with additional headwinds expected in 2025, they said, brands with international appeal or unique selling points are driving new demand for retail space in the city. “The survival of the fittest will continue in the retail market,” said Cathie Chung, senior director of retail at JLL. “The fierce regional and local competition and the…
Hong Kong banks’ unexpected prime rate cut on Friday will lower funding costs and bring more buyers into the market, with analysts expecting home prices in the city to bottom out “in the short term”. The Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, lowered its base interest rate for the second…
Things are looking up for commercial property investment markets in Asia. Following a sharp slowdown caused by an aggressive global monetary tightening campaign, transaction volumes have recovered significantly this year, rising 28 per cent in annualised terms in the first three quarters of 2024 among countries analysed by property services firm JLL. Last quarter, JLL…
Hong Kong’s office market is likely to trail other segments in terms of recovery as interest-rate cuts and easier mortgage financing rules drive bigger interest and deals in the residential and retail properties, analysts said. Office vacancy rates continued to worsen last month in more business districts in the city including Central, Wan Chai, Causeway…
Former Hong Kong leader Leung Chun-ying has raised concerns about the risks of oversupply in the property market after the government pledged to add more housing units from new large-scale development areas. “For now, there is a shortage of land and housing supply in Hong Kong, but in the future, more supply is not always…
In the first of a two-part series, Salina Li, Aileen Chuang and Jiaxing Li explore the effects of high interest rates on the city’s tycoons and their trophy real-estate holdings. In the rarefied air up on The Peak, the owner of the penthouse in the Opus Hong Kong development – which has been called the…