HK reports lowest-ever Q2 performance in investment and deals
The market reported US$1.3b in closed deals.
Hong Kong market documented US$1.3b in closed deals, the lowest-ever second quarter performance on record for both investment volumes and deal count, MCSI reported.
Investment went down almost 50% relative to last year’s low base, with the city going behind Taiwan in the most active APAC markets in the quarter.
“The biggest deals for the quarter were land sales or purchases of buildings for redevelopment,” read the statement.
Benjamin Chow said the commercial real estate market declined to a new low, with the office market being the biggest sector, failing to reach US$100m in sales in a single quarter.