Southeast Asian buyers emerge as top non-local investors in Hong Kong commercial property
Southeast Asian investors have emerged as the largest non-local buyers of Hong Kong commercial property, led by Singapore-based capital, according to Savills. As of Tuesday, local and non-local investors – including those from mainland China – were behind an estimated HK$30.36 billion (US$3.87 billion) in transactions involving commercial property deals above HK$50 million in Hong Kong so far…
Southeast Asian investors have surged as the leading non-local purchasers of commercial real estate in Hong Kong, according to Savills, a property consultancy. Singapore-based capital now leads this trend, comprising over 11% of transactions exceeding HK$50 million in the city this year, valued at HK$3.37 billion (US$3.87 billion).
This represents a significant rise from previous years, accounting for roughly two-thirds of all non-local investment. Mainland Chinese buyers came in second, contributing 5.8% with HK$1.75 billion, while Hong Kong-based investors dominated with 83.2% of total value at HK$25.25 billion. Southeast Asian investment eclipsed mainland Chinese involvement last year, ranking third among non-local buyers with HK$1.74 billion (3.7%).
Notable acquisitions by Singaporean firms include The Center (DBS Bank) and One Bedford Place (Wee Hur Holdings). Despite an expected interest rate hike, Savills predicts Southeast Asian and other non-local investors will continue flocking to Hong Kong's commercial property market.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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