How will the 0+3 arrangement affect HK's industries?

The leasing market expects a pickup in activities.

The new 0+3 quarantine arrangement that scraps the compulsory hotel quarantine for inbound travellers from Taiwan and other overseas places is expected to leave a positive impact on several industries in Hong Kong, including the real estate market.

According to JLL, the new setup will positively impact the leasing market.

"An open border will facilitate companies to resume/proceed with their deal diligence processes regarding real estate requirements. We believe many such activities have been put on hold awaiting a clearer roadmap to re-opening," the expert said.

Since entry requirements got eased, JLL said Hong Kong will be able to regain its attractiveness to multinational companies and mainland firms to set up or expand its presence in the city.

"A pick-up in office leasing activities will lend support to the rental market," said JLL.

Apart from the office market, JLL said the retail market will also benefit from the easing of quarantine, albeit "minimally initially."

Jeffries echoed this, saying that whilst the relaxation is a "piece of positive news" for the market, it is unlikely to help retail sales in the short term given the shift in mainland Chinese consumer behaviour.

"Short term, brands and retailers expect domestic spending to be affected by the policy with local people travelling or local consumers save for travelling," Jeffries said.

Meanwhile, the aviation sector also welcomed the relaxation, with Cathay Pacific saying the latest measure will help boost sentiment for travel.

According to the airline, the adjustment will facilitate "gradual resumption of travel activities and strengthening of network connectivity to, from and through the Hong Kong aviation hub."