- Hong Kong’s aggregate trade weakened by 4.1% y-o-y in January and February combined, falling to its lowest level since Q1 2016. Container throughput fell by 15.2% y-o-y, while air cargo throughput declined by 8.6% y-o-y over the same period.
- Vacancy increased by 0.3% points q-o-q to 2.1% in Q1 2019. Availability in ramp-access warehouses continued to fall, but some space in cargo-lift buildings was returned to the market.
- Overall warehouse rents climbed by 1.8% q-o-q, while low vacancy helped ramp-access rents increase by 2.3% q-o-q.