News

Up-to-the-minute news from our global press teams providing the latest developments both within Savills, and across the wider property industry.  

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News

Commercial Investment

Hong Kong warehouse rents fall for the first time since 2016

"Hong Kong – 16 Oct 2019 Prominent real estate advisor Savills pointed out in its Q3/2019 Industrial Briefing that in contrast with the weak general market, the industrial investment segment is proving to be relatively resilient thanks to redevelopment interest. The leasing market, however, recorded a rebound in vacancy rates and a mild fall in rents. The firm believes the new air freight safety regulations have boosted the space needs of air freight forwarders, though this new demand is expected to be short-lived."

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News

Research

Hong Kong retail sector faces harshest conditions since SARS

"Hong Kong – 15 Oct 2019 Prominent real estate advisor Savills pointed out that the retail sector has borne the brunt of the corrosive effects of the trade war and the damaging impact of the social unrest on visitor numbers. Looking ahead, without a resolution in sight, the current market conditions could prevail into next year and it is worth remembering that the negative impact of the Occupy Movement was felt for at least 12 to 18 months, yet day trippers are expected to be the first to return if things were to return to normal."

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News

Office & Business Space

Hong Kong Grade A office rents dip in Q3 while fundamentals remain sound

"Hong Kong – 14 Oct 2019 Prominent real estate advisor Savills pointed out that the positive rental growth of Hong Kong’s Grade A office ended its seven-consecutive-quarter run abruptly in Q3 with overall rents falling by 1.0%; while the vacancy rate remained low (3.8%). All sub-markets saw a drop except Kowloon West where rents remained unchanged. On a positive note, Mainland firms remain committed to Hong Kong, even if some multinationals may be weighing up other regional alternatives. New supply over the next five years will be focused in Kowloon East and fringe island while 2023 will see major new projects completing in Central."

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News

Residential

The rise and rise of branded residences

"First introduced more than a decade ago, branded residences sector has seen phenomenal growth. According to Savills Research, there are now more than 430 branded schemes globally with a combined total of 65,000 units. In the last decade, the number of branded schemes has grown by 195% and is expected to further increase in 2020. Asia Pacific, led by Thailand and Vietnam, currently has the most schemes in planning and under construction."

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News

Corporate News

Savills expands in India

"Creating a very strong foundation to accommodate and further enhance the rapid growth of its business, international real estate advisor Savills recently moved into new premises in Delhi NCR and Mumbai."

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