According to JLL's latest Hong Kong Property Market Monitor report, Hong Kong's Grade A office market recorded positive net absorption in February 2023 after it recorded negative net absorption for three consecutive months.
Global property consultant Knight Frank is reporting this week that Singapore leads the Q4 2022 rankings, pushing New York off the top spot. Singapore's annual rental growth grew from 23% in Q3 to 28% in Q4 2022, with limited stock and strong demand driving prices higher.
According to JLL's latest Hong Kong Residential Market Monitor report, property developers are losing appetite for acquiring luxury residential sites and have shifted their focus to mass residential sites due to slow sales velocity, increasing financing costs and longer payback periods of luxury residential developments.
Commercial real estate investment in Asia Pacific in 2022 declined by 27% year-on-year as a tightening interest rate cycle and global macroeconomic uncertainties influenced decision-making.
According to JLL's latest Residential Market Monitor report, Hong Kong's primary residential market has a total of 79,000 new homes available, which may take about 5.4 years for developers to sell at the current sales velocity.
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