A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.
Hong Kong's Central's Grade A office rents fell 2.7% to HKD 102.4 per sq. ft in May 2020 as the vacancy rate reached 5% for the first time since the Global Financial Crisis in 2008.
As businesses prepare to return to the office amid an easing of lockdown restrictions across Asia Pacific, many are considering how their corporate real estate portfolios should look in the 'new normal'.
Hong Kong's unemployment rate has increased progressively to a nine-year high amid the COVID-19 pandemic and social tension. The rising unemployment rate in the city is putting pressure on local housing prices.
Only 40 apartment flats from two new mass residential projects have been launched in the primary market one month after the Chinese New Year (January 25, 2020), compared to the past three years' average of around 530 flats.
According to global property consultant Knight Frank's latest Wealth Report 2020 reveals that private capital was responsible for $333 billion of all commercial real estate purchases in 2019, a 5% rise on the previous year.
U.S. net-lease investment reached record highs in 2019, with investors increasingly attracted to opportunities in high-growth secondary and tertiary markets.
With the longest global economic expansion on record, international commercial property investors now face an increasingly complex calculus.
International property consultant CBRE is reporting this week that global commercial real estate investment volume in Q4 of 2019, including entity-level deals, was nearly level (-0.5%) with Q4 2018, while full-year volume fell by 2% from 2018.
According to JLL in its Macau Year-end Property Review 2019, impacted by the cautious investment sentiment caused by the global economic uncertainty, all property sectors in Macau experienced a significant fall in transaction volume last year.
As Hong Kong's office market continues to reel from the impacts of the local social movement and economic uncertainties, leasing across all business districts in Hong Kong have been subdued.
According to global real estate consultant Knight Frank, home prices across 56 countries and territories worldwide are rising at an annual rate of 3.7% on average. This marks the index's slowest rate of growth for over six years.
The longest bull market in Hong Kong's property market history has come to an end in the second half of 2019 due to the local social unrest with Mainland China, and related economic uncertainties surrounding it.
126 buildings of 200 meters' height or greater were completed in 2019, including 26 "supertall" buildings of at least 300 meters' height, a new world record.
The average number of bidders for residential sites in Kai Tak decreased by 67% to just 5.5 in 2019 from two years ago.
Based on new data from global real estate consultancy JLL reveals that Asia Pacific commercial real estate transaction volumes in the third quarter of 2019 have reached a record, bringing the year-to-date activity to a new high of $128 billion.
According to new report from CBRE, global commercial real estate investment volume, including entity-level deals, rose by 7% quarter-over-quarter but fell by 2% year-over-year in Q3 2019.
The combined office vacancy rate of Hong Kong's traditional business districts, which includes Central, Wanchai/Causeway Bay and Tsimshatsui, rose above 3% for the first time in 5 years in August 2019.