This is the weekly news wrap, featuring the latest real estate stories from Hong Kong. Whether your interest lies in industrial, retail, office real estate or asset investments, we have got the news that matters, covered. 

Can Widespread Industrial Building Conversions Fill Hong Kong’s Housing Shortfall?
South China Morning Post
Industrial property owners in Hong Kong are rushing to subdivide their buildings into smaller, liveable units in the hope of benefiting from Chief Executive Carrie Lam’s recently announced proposal to allow such properties to be used for transitional housing.

Hong Kong Scraps Sale of The Peak Land Plot after Bids Failed to Meet US$6.2 Billion Expected Price
South China Morning Post
A luxury residential site on The Peak has been withdrawn from sale for the first time since 2016, a sign that developers are increasingly cautious about the Hong Kong market outlook as a sliding stock market, rising interest rates and the escalating US-China trade war threaten to further dampen buying interest. The Lands Department announced that it had rejected all five tenders received for the purchase of the plot on Mansfield Road, The Peak, after the tender closed as “the tendered premiums did not meet the government’s reserve price for the site”.

HK-Zhuhai-Macao Bridge to Open Tuesday
China Daily
The Hong Kong-Zhuhai-Macao Bridge connecting the east and west sides of the Pearl River Delta in South China will officially open next Tuesday, the liaison office of the central government in the Hong Kong Special Administrative Region revealed. The confirmation of the opening details for the mega bridge intensified the anticipation that had been building for weeks across the Guangdong-Hong Kong-Macao Greater Bay Area, whose development is expected to receive a major boost from the bridge.

China Property Market Feels Fresh Chill, 'Winter' is Coming
China’s property developers usually look forward to the months dubbed “Golden September and Silver October” as the high season for new home sales. This year is proving to be different. After almost two years of local and central government measures to calm the red-hot market, more signs are emerging that the property sector, a major pillar of China’s economic health, is finally slowing down.

China Homeowners Stage Protests Overfalling Prices
Financial Times
A wave of protests by Chinese homeowners against falling property prices in several cities has raised fears of a downturn in the country’s real estate market, adding to pressure on Beijing to stimulate the economy. Homeowners in Shanghai and other large cities took to the streets this month to demand refunds on their homes after property developers cut prices on new properties to stimulate sales.

Trump's Latest Salvo in His Trade War With China? Pulling out of a 144-Year-Old Postal Pact
In his latest attempt to battle the US-China trade deficit and exit multilateral agreements that don’t favor the United States, US President Donald Trump began the process to withdraw from a 144-year-old international postal agreement that lets Chinese retailers mail small packages to the U.S. for rock-bottom prices. Senior White House officials said Wednesday that the U.S. State Department will set its own “self-declared” rates for packages from abroad.

CBRE in the News

Marcos Chan: Launch of Hong Kong-Zhuhai-Macao Bridge Will Boost Demand for Hotels and Malls
Ming Pao (Chinese only)
Features Marcos Chan, Head of Research, CBRE Hong Kong, Southern China and Taiwan

Foot Locker Launches a Comeback in Hong Kong, Kicking off with Free Haircuts and X-Box Gaming Zone
South China Morning Post
Features Lawrence Wan, Senior Director, Advisory & Transaction Services – Retail, CBRE Hong Kong

Hong Kong Ranks Second in Cross-Border Investments, Attracted US$13.26 Billion in 12 Months until June
South China Morning Post
Features CBRE Research