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.
Retail investment momentum picks up in August
The improvement was most noticeable in Causeway Bay where a building was sold for $300m.
Rate of office vacancy stables in August after four-month high
Rents will remain under pressure amidst low demand and high supply.
Primary residential market sales fall to a six-month low
Only 742 units were sold in August.
Office net effective rent drops 0.7% MoM
Submarkets such as Central and Wanchai / Causeway Bay saw rental drops.
Kai Chiu Road, Haiphong Road emerge as retailers most favoured shopping streets
Retail rents in Haiphong Road are now only 40% lower than pre-pandemic levels.
Properties in Quarry Bay sold via public auction
The properties are located on Pan Hoi Street and King’s Road.
$550m-luxury property in Mid-Levels East up for sale
The residential building has a saleable area of 13,840 square feet.
Hong Kong’s most notable real estate agents under 40
Majority of agents in the list are experts on the office market.
Basket of properties in Pan Hoi Street and King’s Road up for auction
The reserve price for the basket of properties is $6.31b.
Sale of residential units sluggish in the first half of 2023
Only over half of residential units were sold in H1 2023, slower than the five-year average.
Hong Kong faces likely shortage of 60,000 elderly residential places
JLL expert urges swift action to shelter the growing elderly population before other demographics share in the same housing woes.
Hong Kong needs to build 6,000 more elderly places yearly
JLL warns that the city could face a potential shortage of elderly places by 2032.
Mass residential capital values drop 1.2% QoQ in Q2
JLL attributed the decline to three factors.
Retail property market sees significant boost in 1H23
As of end June, rents of High Street shops rebounded 8.2%.
Mass residential capital values drop 1.2% QoQ in Q2
JLL attributed the decline to three factors.
Office space demand ‘evolving’ as corporates focus more on sustainable offices: JLL
Despite increasing demand, vacancy still rose to 12.4% as of end-May.
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