Commercial Property
Retrofitting old buildings will increase rents, tenant satisfaction
Retrofitting old buildings will increase rents, tenant satisfaction
JLL research showed that retrofitting old buildings will be cost effective.
Lands Department rejects all tenders for Stanley site
The site received four tenders.
Two sites for sale via public tender
Tender invitations for both lots start on 13 January.
Analyst wary for Hong Kong’s commercial real estate market recovery
Interest rate hikes and higher costs of capital can make the market go over the edge.
International auction house to open exhibition space in Hongkong Land’s central portfolio
Sotheby’s will cover nearly 24,000 square feet in Landmark Chater.
Office rents to decline 3%-5% in 2023: report
The demand will remain sluggish due to global and local economic situations.
Retail street rents to decline 10-15% YoY in 2023
Retailers are not optimistic about the sector’s outlook, according to Knight Frank.
Rising interest rates, weakening economy dampen residential property demand
Residential sales were down 18.8% MoM in October, according to the Land Registry.
Grade-A Office rents down 1.8% MoM in October
The downward rental trend will continue for the rest of 2022.
Hong Kong’s construction prices remained steady: JLL
The average fit-out cost is US$130 per sqft.
Non-industrial site in Kwun Tong sold for $296m
It was awarded to Topco (H.K.).
Retail spaces in non-core areas continue to pull investments
The retail podium at Coo Residences in Tuen Mun was sold for $450m.
Office net effective rents drop 0.6% MoM in October
Across submarkets, Central posted the largest drop in rents.
Kwai Chung site sold for $1.1b to CITIC Pacific subsidiary
It was awarded on a 50-year land grant.
Commercial investment volumes drop 19% YoY to US$1.7b in Q3: MSCI
Singapore ranked 5th amongst APAC markets with the highest investment volume.
Property sales fall 8.1% MoM in October
Year-on-year sales declined by 28.9%
Site in Kai Tak up for public tender
The site is designated for non-industrial purposes.
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