Skip Ribbon Commands
Skip to main content

Research

Report

Hong Kong Property Market Monitor - November 2015


Home sales slumped to a 19-month low in September, dropping 22.6% month-on-month to 3,300 transactions. Mass residential capital values also declined for the first time in 18 months, down1% m-o-m in October, but there is still sustained demand for ultra-luxury residential real estate. The last two remaining houses for sale at Cheung Kong Property’s 28 Barker Road on the Peak sold for a combined HK$1.24 billion.

In the office sector, the overall vacancy rate dropped to its lowest level since 2000, buoyed by take-up in Wanchai / Causeway Bay and Kowloon East, but Central recorded its first net withdrawal for the year as some sizeable lease expiries returned space to the market. Central rents grew by 1.1% in October, led by growth at the top end of the market.

Retail sales continued to fall in September, as government data showed a 7.2% year-on-year decrease in per capita Mainland visitor shopping spending in the first half of the year. Restaurant receipts, however, bucked this trend, rising 4.5% y-o-y.

Weakness in global trade markets saw the value of exports and imports fall 4.6% and 7.6% year-on-year, respectively, in September. A local investor reportedly acquired the entirety of Kader Industrial Centre in Fanling, setting the highest unit price for industrial buildings in the northern New Territories.

Please fill out the form to download the report.

pdf | 52953