Hong Kong Figures - Investment Q3 2023

October 13, 2023 5 Minute Read

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  • Although commercial real estate investment volume (deals worth over HK$77 million, excluding related transactions) grew by 40.3% q-o-q to HK$7.4 billion in Q3 2023, this marked the third lowest quarterly total since Q2 2009. Year-to-date investment volume reached HK$26.2 billion, just 35% of the previous year's total.
  • Only 26 deals were completed this quarter, the third-lowest total since Q2 2009. Just four transactions breached the HK$500 million mark, indicating a scarcity of deals for large assets. The top three deals totalled a combined HK$2.9 billion, all involving redevelopment.
  • While subdued overall, investment demand was broad-based. Developers completed HK$2.0 billion worth of deals over the quarter, representing 26% of total investment volume. Local investors contributed HK$1.8 billion, HK$1.1 billion of which was invested in retail properties but confined to deals worth below HK$500 million.