Hong Kong

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.

And annual land premiums are expected to reach HK$10-15 billion.

Analysts believe the market has yet to reach its bottom.

The total sales value was over HK$37 billion.

The 2.8m sq ft of new supply will take time to absorb.

Rents are expected to decline by up to 5% in Q4.