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News

Research

Hong Kong residential leasing market saw the rise of townhouse rents, Kowloon’s appeal and local appetite in Q1

"Hong Kong - 25 April 2019 Prominent real estate advisor Savills observed that Q1 was characterised by small movements in rents. The robust townhouse market recorded its largest rental increase (+4.0%) since Q1/2018, while luxury apartment rents were up on Hong Kong Island (+1.0%) and in the New Territories (+0.5%) but fell in Kowloon (-0.5%). Locals still dominated residential leasing enquiries. In terms of new supply, Rosewood Residences and K11 ARTUS in Victoria Dockside, Tsim Sha Tsui will be serviced apartment projects to watch this year."

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News

Office & Business Space

Hong Kong office leasing rental momentum continues in Q1

"Hong Kong - 17 April 2019 Prominent real estate advisor Savills pointed out that the record low vacancy rates (Hong Kong Island: 1.8%; Kowloon: 2.6%) supported the slight rise in office rents over Q1. Central, as the main driver of growth (+2.9%), hit over HK$150 per sq ft per month net effective. Thanks to efficient new transport infrastructure links, tenants now pay more attention to new high-quality buildings, sometimes above location."

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News

Retail

2019 will see stable retail rents and evolving trends in Hong Kong

"Hong Kong - 16 April 2019 Prominent real estate advisor Savills saw the Hong Kong retail leasing market posted a subdued performance and shopping mall rents rose modestly driven mostly by Harbour City (HK$102 million of retail sales daily in 2018), while street shop rents flatlined. Retail sales over January and February recorded their first decline since February 2017, falling by 1.6%. We expect retail rents to remain stable in 2019."

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News

Corporate News

Savills Group CEO Mark Ridley to visit Ho Chi Minh city

"Mr. Mark Ridley, newly appointed Group CEO for Savills, will be visiting Vietnam as part of his upcoming Asia Pacific trip. Mr. Ridley selected Vietnam as the next stop in his journey because “it is now one of the global property hotspots in 2019” and Savills considers it an important long-term strategic market for our business."

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