In Hong Kong, the world’s priciest real estate market, choosing to rent or buy is a crucial move. Jones Lang La Salle (JLL Property) has analysed the market in an infographic. Its findings will impact on any company with a commercal lease seeking office space in hong kong.
The Hong Kong property expert, has studied trends within the planet’s most competitive real estate market. The findings are essential reading for any firm or individual holding office space in the territory. They set out the recent changes in price for both lease and purchase, and factor in JLL’s sector expertise to offer a futureproof guide to Hong Kong investment.
What are the findings?
The infographic recommends that investors in the Hong Kong office market look for properties with refurbishment and upgrading potential. Sales prices, it says, continue to rise, but are set to slow as interest rate rises weigh down the marketplace.
For those leasing property, JLL Property notes that Kowloon East remains the island’s top sector for new supply. Increasingly, the rents in non-core Hong Kong locations are rising, reflecting the overarching competitive nature and desirability of the territory.
Both rents and sale prices, says JLL, are higher than last year. JLL property ( http://www.jllproperty.com.hk/en-gb ) puts average sales prices in Tsim Sha Tsui at at $13,046HKD / sq. ft. at the lower end of the market. Elsewhere, top end properties command £27,767HKD / sq. ft on average in Central.
The JLL property dataset breaks down and compares sales and leasing price metrics across Hong Kong’s key districts, including Wanchai, Central and HK East. The figures represent the best future analysis currently available on the movement and trending in Hong Kong property markets
The numbers will interest investors and firms with a presence in the island, seeking to both maximise investment capital and save money within the tightest of real estate markets.
“We’ve prepared this dataset with a view to assisting and sharing the crucial changes in the island’s real estate market, both now and into the future,” said Eric Chong, JLL Senior Analyst.
“As one of Hong Kong’s top real estate advisers, it’s our responsibility to share our knowledge and guide and assist the business community.
“Making the right investment decision can make or break business in Hong Kong. Our research team evaluates and contrasts the latest data to really get to the heart of Hong Kong real estate patterns.”
About JLL Property
JLL Property is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL Property has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.