Hong Kong Residential and Investment Markets Scaled New Heights in 2021, With Pandemic Contained and Economy Recovering Property Market Set to Further Improve in 2022 with Border Reopening


HONG KONG SAR – Media OutReach – 14 December 2021 – Global real estate services firm Cushman & Wakefield announced the Hong Kong and Greater Bay Area (GBA) Property Market 2021 Review and 2022 Outlook today. With the pandemic being gradually contained and a steady economic recovery in 2021, Hong Kong’s property market shows signs of recovery:

–       The residential market has been active as the number of sale and purchase agreements (S&P) reached a peak since 2012. Private home prices show a significant rise with some housing estates breaking record highs.

–       The number of major investment transactions increased by more than double on the previous year, with industrial buildings and development sites among the most active sectors.

–       The office leasing market has stabilized, with total absorption in 2H21 standing at 513,000 sf NFA and rental declines slowing.

–       The retail leasing market has begun to pick up, as vacancy in prime retail districts begins to drop and rents in some districts start to rise.

–       In the GBA, Shenzhen and Guangzhou continue to dominate major investment deals and residential transactions, with other GBA cities catching up. Foreign investors’ presence has also grown, up to a 49% share in 2021.

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www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).


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