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Hong Kong MarketBeat Reports

Rosanna Tang • 09/10/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.  

Q3 2024 Highlights

Office: Grade A office net absorption achieved a fourth consecutive positive quarter in Q3.

Retail: Changed consumption behaviors by tourists and residents continued to impact retail sales in Q3.

Logistics: Leasing activity was relatively sluggish in Q3 with the 3PL sector cautious.

Capital Markets: Overall investment sentiment was guarded in Q3 with distressed and discounted disposals prevalent.

Learn more by clicking our most recent Hong Kong MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Hong Kong Office MarketBeat

The banking & finance sector underpinned leasing activity in Q3 to propel Grade A office net absorption to a fourth consecutive positive quarter, led by Greater Tsimshatsui and Greater Central submarkets. With no new supply entering in the quarter, overall Grade A availability edged down to 19.3%. The overall Grade A office rental level softened a further 2.4% q-o-q.

Click here to download the report

Shopping Retail
Hong Kong Retail MarketBeat

Changed consumption behaviors by inbound tourists and local residents continued to reshape key category retail sales in Q3, with just the medicines & cosmetics sector registering growth. Regardless, international and local brands sustained leasing momentum at prime Hong Kong Island locations. High street rents in key retail districts picked up in the range of 1.0% to 2.3% q-o-q.

Click here to download the report

Warehouse Internal Rack
Hong Kong Logistics MarketBeat

Leasing activity was relatively sluggish in Q3 with the 3PL sector remaining cautious. However, major player such as SF DHL and Tesla executed on expansion plans. New availability at Tsing Yi pushed the overall prime warehouse vacancy rate to 7.8%. Prime warehouse rents remained stable at HK$15.2 per sf per month. Lack of near-term new supply indicates market stability through 2024.

Click here to download the report

Office Buildings CBD
Hong Kong Capital Markets MarketBeat

Overall investment sentiment remained cautious in Q3 with distressed and discounted disposals the key trend. Nevertheless, quarterly non-residential deal volume at >HK$100 million surged 90.1% q-o-q from the low base of Q2. The office sector took 59% of investment volume, with portfolio acquisitions prevalent. Industrial, retail, hotel and mixed-use asset deals rounded out the quarter.

Click here to download the report

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