Hong Kong

With the vision of growing business and diversifying its influence, Lodes sets forth to bring Italian artistry into the Asia-Pacific region.

The market continued to see signs of recovery in Q3.

The market maintained its lacklustre performance in Q3.

Rents could decline by up to 5% next year.

Though there were sporadic big-ticket luxury sales during the month.

Central and Causeway Bay registered the steepest YTD decline.

Market recovery should gain momentum by the second half of next year.

Q3 recorded HKD5.3b worth of transactions in Q3, the third lowest investment quarter since 2013.

The vacancy rate stood at 3.2% in Q3.

The Central/Admiralty submarket was the main driver of this decline.

The vacancy rate in this submarket declined by 2.6ppt to 5.3%.

Total commercial investment volume reached only HK$6.9b in Q3.

Warehouse vacancy increased to 5.5% in Q3.

There was a significant level of activity in Kowloon East.

The company’s G.I.V.E. Sustainability Strategy is paving the way for a greener, more inclusive real estate sector, setting new benchmarks for sustainable development in Hong Kong and beyond.

Whilst overall rents on Hong Kong Island are expected to fall by 3-5%.