International Business Times / August 10th, 2017
International Business Times reports: Hong Kong dethroned the city of Tokyo as the best destination for commercial real estate investment in Asia Pacific in the first half of the year.
According to the latest research by Real Capital Analytics, the completed sales of income-producing assets in Hong Kong reached US$8.3 billion, a 5 percent uptick on the same period earlier.
This is the first time the city cracked the top of the list. The Japanese capital city suffered a 33 percent drop in investment during the period as high prices and anaemic suitable stock eased the investment activity. Tokyo recorded US$6.2b sales volume during the said period.
RCA Senior Director of Analytics for Asia Pacific Petra Blazkova said there were six mega deals involving development sites in the first half of the year, which highlights how the scarcity of land in the city is during the market.
Read the full article on International Business Times: Hong Kong Trumps Tokyo as Top Commercial Real Estate Investment Market in Asia Pacific