Hong Kong Property Market Monitor – March 2024

Market sentiment improves after removal of cooling measures

March 22, 2024

In the brief 16-day period after the removal of all cooling measures (2/29-3/15), the primary market had already recorded 2,103 transactions, compared to a monthly average of 896 in 2023. Read our latest snapshot of the Hong Kong office, residential, retail and industrial property markets. 

  • Office: Overall rents dropped further.

  • Retail: Growth momentum of total retail sales continued to soften.

  • Industrial: Due to the low base effect, total trade in January recovered substantially by 27.4% y-o-y.

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