Home›Global Markets›China›Singapore investors become biggest non-local buyers of…

Singapore investors become biggest non-local buyers of Hong Kong offices

In Q2, Singapore accounted for HK$3.37 billion, or 62.0% of HK$5.46 billion spent by non-local and mainland investors on Hong Kong commercial properties.

Reported · Written up by our desk · China

Singapore-based investors have emerged as the largest group of non-local buyers of commercial property in Hong Kong, as pricing for distressed office assets has fallen amid weakness in the city’s office market, according to Colliers as cited by SCMP Economy.

Colliers head of capital markets and investment services Thomas Chak said the second quarter saw increased Singapore participation because office asset prices became more attractive after years of correction, creating an opportunity to buy quality assets at a discount ahead of a potential longer-term recovery.

Data from Colliers show that between April and June, non-local and mainland Chinese investment in Hong Kong commercial properties totaled HK$5.46 billion, with Singapore-based buyers contributing HK$3.37 billion, or 62.0%, of that total. Mainland investors invested HK$1.23 billion over the same period.

In the prior quarter, mainland Chinese investors were the biggest non-local group acquiring commercial assets, at HK$4.73 billion out of a total HK$6.03 billion, while Singapore investors were not present in the market.

More like this

Sources