高力国际（Colliers）：2025年香港商业地产市场展望报告（英文版）（13页）.pdf

1、2025 Market OutlookHong KongJan 20252024 proved to be another difficult year for Hong Kongs commercial property market,characterized by varied performance across different sectors.The office and industrial leasing markets faced a decline in demand due to a lackluster business climate.Specifically,th

2、e Grade A office sector saw an annual supply of around 1.5 million sq.ft.,accompanied by a net take-up of 0.45 million sq.ft.*,resulting in a vacancy rate of 16.8%by year-end.The onset of a rate cut cycle in September,along with the relaxation of the loan-to-value(LTV)ratio in October,offered a mode

3、st boost to investment sentiment.This led to a slight increase in transaction activity during the latter half of 2024,primarily fueled by receivership sales and end-user demand.However,this fragile recovery was soon overshadowed by uncertainties related to the U.S.presidential election,causing inves

4、tors to adopt a more cautious stance.Overall,capital values across all major commercial sectors saw notable declines in 2024.Grade A offices experienced a drop of 17%,while high street shops fell by 8%.Despite these challenges,there was an uptick in inquiries from clients,suggesting potential for fu

5、ture transactions as more high-value properties entered the market.Looking ahead to 2025,Hong Kongs property market is expected to continue facing significant challenges,particularly in the office sector.Grade A office rents are projected to decline by 8-10%due to ongoing economic uncertainties and

6、an oversupply of space,with 3.5 million sq.ft.*of new office supply anticipated to enter the market.The high vacancy rates,currently hovering around 17%,are unlikely to improve significantly in the near term,as businesses remain cautious about expanding their office footprints amid a challenging eco