CBRE

Residential units sold during the month stood at 3,051. 

Hong Kong and Singapore are tied for second place. 

Price index stood at 332.5, the Rating and Valuation Department reported.

This is due to a positive economic outlook.

The asking price is equivalent to $32,000 per square foot.

CBRE said operators should consider two areas.

Causeway Bay vacancy hit single-digits for the first time since Q1 2020.

The completion of a new logistics centre in Tuen Mun contributed to this.

A total of 20 transactions were accounted for during the period.

Q3 saw an additional 1.8 million sq. ft. of new office space.

The property is adjacent to Tong Fuk Beach.

Demand will be coming from multinationals and Chinese enterprises.

This has resulted in a 3.1% drop in total space office space occupied.

The 12-storey facility features direct sea access along Aberdeen Harbour.

The 10-storey industrial building is on sale until 15 September.

It’s partly because of the new administration.   Landlords are becoming more optimistic about the retail market, and it's partly thanks to the new administration, said CBRE.   In a report, CBRE said the measures of the new administration to revitalise the economy has given landlords a confidence boost.   Also contributing to the landlords’ improved optimism is their belief that high-street rents have already bottomed out.   “They are expecting rents to be stabilised or to be improved from the current levels,” said CBRE, adding that landlords also feel that in the future, the impact of the pandemic on the retail market will be “limited.”   Brands and retail operators, for their part, are also “actively deploying their business strategies with most having new stores opening in the plan for the coming year,” said CBRE.   Segments which are most active in terms of expansion are healthcare, supermarkets, high-end household goods and daily necessities.   On the flip side, CBRE said landlords and tenants are still in a stage of the seesaw battle when it comes to compromising on the rental terms.   Given the situation, the expert said retail vacancy level in H2 will likely remain stable, whilst rents will only increase by a meagre 0% to 5%.