One too: Jiasha rents up 5%
Office rentals are ideal. First Pacific Davis expects a stable property market next year. The rent of Jiasha is expected to rise by about 5%. In the residential market, the trade war is expected to ease, and the price of luxury homes is expected to fall by about 10%.
Luxury home prices are expected to fall 5 to 10% next year
Chen Chaoguo, managing director of Savills Valuation and professional advisors, said that due to several unfavorable factors, including rising interest rates, Sino-US trade wars, and the economic downturn in the Mainland, the property market continued to fall and the Sino-US trade war was suspended. The fire is expected to ease the decline. In the trend of property prices, he said that the price of luxury homes rose by about 6% this year. Under the influence of many factors, the price of luxury homes fell by 5% to 10% next year.
In the non-residential market, Sheng Shimin, senior director of Savills (Hong Kong) Research and Consulting Department, analyzed that this year’s rents in Jiasha were satisfactory, benefiting from the expansion of domestic enterprises and the sharing of workspaces to actively rent commercial buildings. This year’s overall Grade A commercial building Rents rose by about 8%, while Central’s gains ran around the market, rising by about 10%. It is expected that the rent increase in Central will slow down next year, about 2.5%, and the overall rent of Jiasha will rise by about 5%.