Industrial property leasing volumes crashed 76.2% to 578 deals

There were only 20 major deals.

According to Savills, industrial transaction volumes continued to drift with only 578 deals concluded in Q3, representing a 15.9% quarter-on-quarter and 76.2% year-on-year decline. 

With end users kept on the sidelines by high transaction costs and an uncertain investment environment, there were only 20 major industrial transactions (over HK$30 million) recorded over the quarter, compared with 25 deals in Q2/2013.

"Against a backdrop of quiet market sentiment, there was an increasing number of major/en-bloc deals concluded via company transfer, as buyers were keen to avoid additional costs in this uncertain environment," Savills said.