F&B Rents in First Rise Since Q3 2016 yet Relaxation of Cross-Border Restrictions may Impact Short-Term Demand
Highlights of Office Market
– Citywide rents dropped 1.4% q-o-q, mild decline from -2.0% q-o-q in Q1
– Net absorption at -192k sq ft, improved from -900k sq ft in Q1
– Availability rate at 14.4% is expected to remain stable in 2H 2021
Highlights of Retail Market
– YTD retail sales increased by 8.5% y-o-y
– Vacancy rate remained flat
– Overall rents to stabilize in 2H 2021
– Relaxed travel restrictions will induce a short-term drop in retail demand as locals resume outbound travel
HONG KONG SAR – to download the event photos and presentation deck.
Photo Caption
Photo1: (From Left to Right) Mr. John Siu, Cushman & Wakefield’s Managing Director, Hong Kong and Mr. Kevin Lam, Cushman & Wakefield’s Executive Director, Head of Retail Services, Hong Kong
Photo 2: (From Left to Right) Mr. Kevin Lam, Cushman & Wakefield’s Executive Director, Head of Retail Services, Hong Kong and Mr. John Siu, Cushman & Wakefield’s Managing Director, Hong Kong
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. Across Greater China, 22 offices are servicing the local market. The company won four of the top awards in the Euromoney Survey 2017, 2018 and 2020 in the categories of Overall, Agency Letting/Sales, Valuation and Research in China. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
#Cushman&Wakefield
Source:: Media Outreach
admin
