retail sales declined by 4.2% y-o-y in July and August combined, while watch
and jewellery sales plunged by 7% y-o-y over the same period
were more surrender leases in Q3 2015. Sports brands and fitness centers were
relatively active in taking up spaces
in the core shopping districts were mostly leased or renewed at rents lower
than their previous terms
fall was most noticeable in Causeway Bay
Market – Rents Supported by Regional Retailers*
retailers remained as a demand driver in the leasing market as some expanded
their logistics operations
are supported by regional retailers as they face less impact from the sluggish
retail sales in Hong Kong
rents edged up 0.9% q-o-q in Q3 2015
vacancy of warehouses in Q3 2015 fell by 0.2 percentage points from the
previous quarter to 2.6%
Market – Grade B Offices Most Sought After*
investment volume (for deals over US$10 million) in Q3 2015 recorded a 44% drop
q-o-q at HK$17.6 billion
office sector was most active in Q3 2015, with several grade B buildings
significant deal of the quarter is a big-ticket hotel transaction, where GAW
Capital Partners acquired the InterContinental Hong Kong Hotel in Tsim Sha Tsui
for HK$7.3 billion
here are preliminary and may be subject to change in the final report.
full set of CBRE Hong Kong Q3, 2015 MarketViews will be available in mid-October.
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.