There are ongoing anti-reform demonstrations in Hong Kong, and there are unclear Sino-US trade wars, which have also implicated the commercial market
According to the information of the Integrated Land Registry of the Information Services Department of the United States and the United States, the number of registered industrial and commercial shops in July was 441 (excluding internal transfer cases of over $1 billion), which fell by 6.4% month-on-month and the registered amount was about $6.063 billion. It fell slightly by 3.7% month-on-month. The bank believes that the registration figures for July have not fully reflected the situation in which the market has been quiet after the political conflict intensified in Hong Kong. It is expected that the relevant effects will emerge in the coming months.
In terms of office space, Jones Lang LaSalle’s latest “Hong Kong Property Market Watch” pointed out that the demand for office leasing in Hong Kong has decreased significantly
The central office market recorded a negative absorption of 56,100 square feet in July, bringing the vacancy rate to 2.6%. 3 years high. Bao Yali, head of the business department of Jones Lang LaSalle, said that due to the current global policy makers’ worries about the global economy and the local influence, the rental demand for office buildings in Central has been significantly reduced. He also said that due to the lack of significant increase in the vacancy rate of office buildings and the lack of a large number of new supply, the reduction in demand will take a while to make rents fall significantly. The sales situation of industrial and commercial shops is also not optimistic. According to the statistics of the Midland Industrial and Commercial Stores, only 1230 cases of industrial and commercial shop leasing transactions were recorded in July, a decrease of 9% compared with May before the political event.
Huang Hancheng, the chief executive of Midland Industrial and Commercial Services, believes that the current volume of commercial and industrial shops has been worse than SARS
When he pointed out that the SARS incident occurred, many owners were afraid of not selling, and quickly cut the price, and the price reduction was large enough. Instead, they attracted a large number of buyers to enter the market, making the total transaction not very low. At present, many owners believe that the political turmoil is not a long-term event. The price reduction is not as good as that of SARS. Moreover, the government has strictly controlled the relevant policies of the property market earlier, which has made the property market more defensive.
He continued that the future business and industrial shop transactions will not rise sharply, because the small price reduction can not attract buyers to enter the market immediately, and the prospects of Sino-US trade war are unclear, and the anti-revision demonstrations have not stopped yet, buyers Relatively cautious.