Hong Kong’s commercial property investment growth beats peer Asia-Pacific markets
Hong Kong’s commercial property investment more than doubled to US$3.1 billion in the second quarter, making it the fastest growing investment market in Asia-Pacific thanks to a strong increase in retail and office deals and a low base effect, according to JLL. The 129 per cent growth from a year earlier beat other top-performing markets including Singapore with 108 per cent growth and Australia…
Hong Kong's commercial property investment sector experienced a remarkable 129% growth in the second quarter, surpassing other top markets such as Singapore and Australia, according to JLL. The surge in retail and office deals, coupled with a low base effect, propelled the market to a total of US$3.1 billion, with office investments primarily driven by assets under receivership.
The rebound in the second quarter contributed to a 35% year-on-year increase in commercial real estate investment in the Asia-Pacific region, reaching US$45.5 billion. Despite macroeconomic uncertainties and a complex interest rate environment, JLL's Oscar Chan highlighted that the city's commercial real estate market remains highly active, driven by improving rental prospects and interest in office assets.
This performance is expected to bolster regional growth, with a strong focus on technology-supporting assets and value-added real estate.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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