Research

Hong Kong Property Market Monitor - October 2024

Office vacancy rate stablise at 13.4%

October 23, 2024

Vacancy rates in Central rose to 12.2%, while those in Wanchai / Causeway Bay and Tsimshatsui also rose to 10.3% and 9.4%, respectively. Vacancy in Hong Kong East dropped to 12.4%. Read our latest snapshot of the Hong Kong office, residential, retail and industrial property markets.
 

  • Residential: Home sales declined y-o-y in September despite improvements in market conditions.

  • Retail: Retail sales continued a downward trajectory despite tourism growth.

  • Industrial: JINGDONG Property acquired the entire Li Fung Centre in Shatin for reportedly HKD 1.8 billion (HKD 3,693 per sq ft, GFA) from M&G Real Estate.

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