JLL
JLL is a leading professional services firm that specializes in real estate and investment management. JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021.
$500m single-lot house in Purves Road hits market
The property spans a total of 9,814 sq ft.
Insurance companies drive leasing demand in HK
An insurance firm recently leased 53,600 sq ft at AIRSIDE in Kai Tak.
Student accommodation crisis looms in Hong Kong amidst housing shortage
Currently, the private student housing market can only accommodate 0.4% of the total enrolled population.
JLL sets opening bid prices for 3 commercial floors at Harbourfront Landmark
Bidding starts at $163m and $487m for the 3/F and 5/F & 6/F, respectively.
BSD home sales increases moderately after relaxation of cooling measures
There were 16 home sales involving BSD between November 2023 - January 2024.
AI growth spurs HK data centres demand surge
Global data creation is expected to double in the next five years.
Commercial floors at Harbourfront Landmark in Hung Hom up for auction
The bid price for the properties will be revealed nearer to the auction date.
Office fit-out cost growth moderates to 2.3% in 2023
Hong Kong is amongst the most expensive markets for fit-outs in APAC.
Housing market to enter a phase of ‘relative surplus’ between 2024-2027
JLL noted that the annual average sales of new homes in Hong Kong is only 16,400.
3 ways gov't can improve land tenders
There has been frequent withdrawal of government land lenders in Hong Kong.
Prime hotel, industrial building in East Kowloon up for sale
The properties are sold for $2.22b and $180m, respectively.
Grade A office vacancy rates dropped to 12.6% in October
Kowloon saw the most significant improvement in the vacancy rate.
Are developers losing their appetite for land acquisition?
Since 2022, four residential sites have been withdrawn from government tender.
Relaxation of property cooling measures a ‘band-aid solution’ - expert
The government has reduced Buyer’s Stamp Duty to 7.5%, amongst others.
Luxury home prices to fall up to 5% this year: JLL
Prices are also likely to fall another 5% in 2024.
Office vacancy rates slightly improves in September
Office rents retreated by 1% MoM.
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