Hong Kong office sales hit five-year monthly high
Thestandard · 1 SOURCESabout 1 hour ago2 MIN
Summary
Hong Kong's office property market accelerated in July, with transaction volume climbing to its highest monthly level in nearly five years. Centaline Commercial said 110 office deals were completed during the month, about 50 percent more than in June. The wider industrial, commercial and shop market also remained active, logging 430 transactions for a third straight month above the 400 mark. Total transaction value across those segments reached HK$5.17 billion, up about 8.93 percent from the previous month.
Key Points
- Centaline Commercial said the office property market recorded 110 transactions in July, setting a new monthly high in nearly five years .
- July office deals rose by about 50 percent from the previous month, indicating a sharp pickup in activity .
- Centaline said some landlords were selling at a loss to raise cash, drawing local end-users and investors seeking lower entry prices .
- The industrial, commercial and shop property market registered 430 transactions in July, marking the third consecutive month above 400 deals .
- Total transaction value reached HK$5.17 billion in July, an increase of about 8.93 percent from June .
Why It Matters
Lower asking prices and loss-making disposals can help unlock deals in a market that has been under pressure, giving occupiers and investors more room to enter at reduced levels . If transaction volume continues to rise in August while prices stay stable, it could offer a firmer base for Hong Kong's non-residential property market after a prolonged weak period .