HK - Commercial Properties & REITs

[behappyalways]

Average prices of office buildings and retail space in the city are down by 48% and 39%, respectively, from their 2018 highs, according to Hong Kong government data, eroding the value of collateral backing many bank facilities.


Hong Kong property woes weigh on Schroders as banks seize assets
https://www.theedgesingapore.com/news/p ... ize-assets

[behappyalways]

Hong Kong property association calls for HK$20 bil support fund
https://www.theedgesingapore.com/news/h ... pport-fund

[winston]

HK's office vacancy rate will climb further to 19 percent, CBRE says

by Helen Zhong

Hong Kong's office vacancy rate is expected to reach 19 percent at the year's end, with the full-year rents falling 4 to 5 percent, as new supply continued to weigh on the sector.

In the retail market, CBRE estimated a full-year rental growth of 3 to 4 percent in high street shops, citing the recovery of market sentiment.

Source: The Standard

https://www.thestandard.com.hk/market/a ... -CBRE-says

[winston]

Ovolo Central hotel reportedly sold for half the price in 2021 to outgoing DAB lawmaker's father

The 25-story property changed hands for HK$255 million, down from HK$523 million in 2021.

Completed in 1995, it was converted from office to serviced apartments in 2003 and to a hotel in 2011, offering 41 rooms sized 355–710 sq ft.

Source: The Standard

https://www.thestandard.com.hk/hk-prope ... le/314989/