Hong Kong Office Sales Hit 5-Year High in July, Surging 44% Monthly
On.cc · 1 SOURCESabout 1 hour ago2 MIN
Summary
Hong Kong's commercial property trading has turned buoyant, with office and shop transactions both recording notable rebounds in July . According to a report by Centaline (Commercial & Industrial), office buildings posted the strongest performance, with monthly transaction volumes hitting a near five-year high .
Key Points
- Office transactions reached approximately 110 deals in July, up 44.7% month-on-month and 50.7% year-on-year, marking the first time since April 2021 that monthly office deals exceeded 100 .
- Total office transaction value reached approximately HK$2.698 billion, rising 19.3% from June but falling 28% compared to July last year .
- Shop transactions also warmed, recording about 66 deals with month-on-month and year-on-year increases of 29.4% and 10% respectively .
- Industrial building transactions declined to approximately 254 deals worth HK$1.333 billion, down 17.8% and 8.3% month-on-month respectively .
- A major deal involved the entire Henley Group Centre at 8 Pennington Street in Causeway Bay, sold for approximately HK$892 million to the Wang Chung-tak family of Chun On Industrial .
Why It Matters
The sustained trading volume above 400 deals for three consecutive months suggests the commercial property market is gradually returning to 2021 levels, though prices remain depressed . The emergence of student housing as a new investment theme, with capital from JD.com and Weihe Capital entering the market, may provide additional support for the broader commercial property sector .
The sustained trading volume above 400 deals for three consecutive months suggests the commercial property market is gradually returning to 2021 levels, though prices remain depressed . The emergence of student housing as a new investment theme, with capital from JD.com and Weihe Capital entering the market, may provide additional support for the broader commercial property sector .