By David Green-Morgan on November 19th, 2019
To describe the last two years in Hong Kong as a rollercoaster would be an understatement. From recording the largest single asset deal globally to political protests now entering their sixth month, the city is living through unprecedented times.
Deals involving The Center, a 79-floor office property, illustrate the change in sentiment. Following the $6.8 billion transaction which closed in May 2018 there was a flurry of strata transactions, but since the protests began in June this year there has not been a single additional deal. While overall Hong Kong deal activity dropped 32% in the third quarter of 2019, strata trades are down more than 50%.
Despite these declines Hong Kong remains the second most traded metro in Asia behind Tokyo and is in the top 10 of global metros over the first three quarters of 2019.
Data analysis by Benjamin Chow.
RCA’s Asia Pacific Capital Trends report covers the latest data and trends in the region. Find out how to get the Q3 2019 edition by contacting us.
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