MARCH 2013 - DURATION: 8:57
Edward Farrelly, Head of Research, Hong Kong, CBRE
GDP growth in Hong Kong weakened noticeably over 2012, but it is expected to improve during 2013. Office occupiers remain cautious and continue to relocate to more cost-efficient areas, such as Kowloon. Nevertheless, overall vacancy continues to decline, and pipeline supply remains weak. Rents in Central are weakening as secondary space comes to the market, but the platform for rental growth in 2014 and beyond remains strong. A broad-based group of investors is in buying mode and activity in the investment market is robust; appetite for strata-title assets is particularly strong.
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