Hong Kong

First-hand sales remained below 1,000.

And the office vacancy rate remained high at 12.8%.

The average office size leased declined by 3% to 5,700sq ft in January.

Pastry and cookie retailers had notable success.

The positive momentum from 2024 is expected to continue this year.

There were only less than 900 transactions during the month.

Older buildings are expected to keep facing tough competition.

The vacancy rate remained high at 12.9% during the month.

This company acquired a number of neighbourhood retail podiums.

Total sales from 6,298 transactions hit HK$57.3 billion in November.

Tenant activity was subdued in November 2024.

This is expected to put pressure on office rentals.

Unsold luxury residential units are expected to be the key focus.

The market’s absorption capacity will be tested next year.

The aging population is impacting supermarket retail sales performance.Hong Kong's retail market is experiencing a significant decline, with total retail sales in the first ten months of 2024 estimated to have dropped by 7.1% compared to the same period last year, according to Knight Frank.

Demand is expected to be weak in 2025.