Cushman & Wakefield: Hong Kong Retail Market in Gradual 1H Recovery Since Border Reopening, Office Leasing Market Yet to Stage Significant Rebound
- Written by The Bulletin
Residential Transaction Slowdown Since May as More Buyers Turn Cautious in Rate Hike Environment
- Retail sentiment continues to rebound, with high street rents maintaining low-single-digit growth, vacancy rates further dropping across districts, and pharmacy sector the most active for expansion
- Overall Grade A office net absorption in Q2 recorded -172,700 sq ft as leasing activity is yet to rebound significantly, some tenants taking advantage of lower rents for flight-to-quality moves
- Initial boost from border reopening on residential market fades, as high interest rate environment suppresses housing transactions and price performance
HONG KONG SAR - Media OutReach - 6 July 2023 - Global real estate services firm Cushman & Wakefield today published its Hong Kong Property Markets Review and Outlook 1H 2023 report.
