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Savills Vietnam announces the launch of Korean desk

"With leading investment flow to Vietnam, Korean clients and enterprises are playing an increasingly significant role in our property market. That is why Savills Vietnam launched its new Korean desk to assist a wide range of Korean enterprises across its full range of real estate services in Vietnam, and appointed Ms. Hyojin Kim, based in Hanoi to run the desk."


Commercial Investment

Hong Kong investment sentiment subdued in Q2

"Hong Kong – 11 Jul 2019 Prominent real estate advisor Savills see recent domestic and overseas uncertainties have led to a fall in both transaction volumes and values. The few office transactions recorded over Q2 were driven by bargain-hunting veteran investors and end users. The core retail investment market was particularly hard hit by declining retail sales, with suburban retail remaining relatively unscathed. The firm expects the investment market to endure another bumpy ride over the next three to six months."



Hong Kong luxury residential rents dipped in Q2 while Victoria Dockside’s K11 Artus set a new rental record in Kowloon

"Hong Kong – 10 Jul 2019 Prominent real estate advisor Savills saw the luxury residential leasing market lost momentum in Q2 with rents across all districts posting marginal declines as financial services demand weakened. However, rents in the townhouse market are still supported by limited availability. Expats are a diminishing force, and the market is now dominated by both locals and mainlanders."


Office & Business Space

Hong Kong Grade A office rents hit record high, but growth slows in Q2

"Hong Kong – 09 Jul 2019 Prominent real estate advisor Savills pointed out that despite the positive rental growth for seven consecutive quarters (+0.8%) in all districts, the rate of growth was lower than the 1.6% rise posted in the previous three months. While decentralization will be given a further boost with the completion of new infrastructure, vacancy in core business districts is expected to remain low."



Q2 saw few major industrial transactions, while warehouse rents are holding up well for now

"Hong Kong - 08 July 2019 Prominent real estate advisor Savills pointed out in its Q2/2019 Industrial Briefing that industrial sales sentiment was subdued by external uncertainties and deal volumes declined significantly. However, with vacancy remaining extremely tight (1.9% overall and 0.8% for modern warehouses), the warehouse sector actually recorded a rental increase. Investment sentiment is expected to remain cautious with the ongoing trade situation and the volatile stock market, and volumes are expected to remain low while prices may hold up for another few months."



Prime rents drift as spending slips, while new market trends emerge

"Hong Kong – 04 Jul 2019 Prominent real estate advisor Savills believes the retail leasing market is slowing in tandem with retail sales, with shopping mall rents little changed in Q2, while prime street shop rents recorded a fall of 1.9%. Food, pharmaceuticals and cosmetics are out-performing other retail sectors (+3.1% YoY and +1% YoY in May). The firm believes that the 2019 retail market will see a quiet second half with no big headline deals."



Lease of 2 Tyrone Place, Erskine Park NSW

"A logistics company has leased a 21,142sq m well designed freestanding distribution centre from Ascendas-Singbridge achieving a rate of $122.50 per square metre net under a 5 year lease."

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