2025-02-10-莱坊-Hong_Kong_Monthly_January_2025_4页_245kb

报告摘要

Overall Performance: Average office rent in Hong Kong Island fell by 0.9% MoM and 4.4% YoY to HK$64.1 per sq ft, down 14.4% YoY. Vacancy rates on Hong Kong Island remained high at 12.9%.
Submarket Dynamics: Kowloon’s market remains soft, with leasing activity subdued. New Grade A buildings are leasing at competitive rates. Older buildings face ongoing competition.
Key Trends: Early signs of improvement from hedge funds and SMEs leasing smaller spaces below 5,000 sq ft. Price cuts by developers have attracted buyers, but sentiment remains cautious.

Sales and Prices: Residential sales totaled 53,099 units in 2024, up 23% YoY with a YTD price increase of 6.6%. Luxury segments performed well, with ultra-luxury transactions in areas like Mid-Levels and The Peak.
Inventory and Activity: New inventory risk overwhelming market absorption capacity. High rental vacancy rates persist in prime areas.
Outlook: 2025 will see increased project launches, with potential price rises of up to 5% if global conditions cooperate, though demand caution remains.

Challenges: Retail sales declined by 7.1% YoY (Jan-Nov 2024). Luxury goods and durable consumer items underperformed due to a weak economic climate.
Sector Resilience: Discretionary categories like clothing and cosmetics performed better. Shenzhen travel schemes and physical retail renovations are small hopeful signs.
Outlook: Retail recovery is slow. Small shops continue to face high vacancy risks, while larger centers adjust to tenant demands.

Note: Specific transaction data and more detailed analysis can be found in the full report by Knight Frank.

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