- At its most recent meeting in March, the U.S. Federal Reserve kept interest rates unchanged and slashed all projections of a further hike this year. Hong Kong’s Best Lending Rate remained flat in Q1 2019, while the 1M-HIBOR was reduced to 1.53% in March from its recent peak of 2.21% in December 2018.
- The investment market cooled further in Q1 2019. Transaction volume (including deals for commercial assets over US$10 million, excluding pure land sales) fell by 24% q-o-q to HK$20.2 billion.
- A commercial site on Kai Tak Runway was withdrawn in January as all tendered premiums did not meet the government’s reserve price.