HONG KONG, May 21, 2018 - (Media OutReach) - The RICS (Royal Institution of Chartered Surveyors) Hong Kong Commercial Property Monitor results for Q1 2018 indicated that demand for retail space was unchanged from Q4, marking the first time since 2013 that demand for retail space has not declined.
The Occupier Sentiment Index (OSI) increased modestly to 14 in Q1 from 10 in Q4 2017. The Investment Sentiment Index (ISI) increased six points from the previous quarter, to 19.
Demand for office and industrial space continued to increase in both the occupier and investment markets. The supply of office and retail properties available to rent increased at a modest pace in Q1. Respondents reported an increase in landlord incentives on retail space.
"Occupier demand continued to rise in Q1 2018 at a headline level," said Mr Frank Wong MRICS, RICS Hong Kong External Affairs and Public Concerns Committee Member. "Demand for office space remained robust, while respondents continued to report an expansion in demand of industrial space, albeit at a more modest pace.
"Headline foreign enquiries were modestly higher from the fourth quarter, though this was largely driven by the office segment as a small increase in enquiries for industrial properties was offset by a minor decrease in foreign demand for retail properties," Mr Wong said.
The RICS Hong Kong Commercial Property Monitor is a quarterly sentiment index tracking trends in the commercial property market. It is a leading indicator for global investment and occupier markets. The full report is available at www.rics.org/economics.
Confidence through Professional Standards
RICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards - bringing confidence to the markets we serve.
We accredit 125,000 professionals and any individual or firm registered with RICS is subject to our quality assurance. Their expertise covers property, asset valuation, real estate management; the development of infrastructure; and the management of natural resources, such as mining, farms and woodland. From environmental assessments and building controls to negotiating land rights in an emerging economy; if our members are involved the same professional standards and ethics apply.
We believe that standards underpin effective markets. With up to seventy per cent of the world's wealth bound up in land and real estate, our sector is vital to economic development, helping to support stable, sustainable investment and growth around the globe.
With offices covering the major political and financial centres of the world, our market presence means we are ideally placed to influence policy and embed professional standards. We work at a cross-governmental level, delivering international standards that will support a safe and vibrant marketplace in land, real estate, construction and infrastructure, for the benefit of all.
We are proud of our reputation and work hard to protect it, so clients who work with an RICS professional can have confidence in the quality and ethics of the services they receive.
Media enquiry, please contact:
RICS East Asia Public Relations Representatives
Ms Peggy Mak / Ms Wendy Chan
T: +852 3159 2982 / +852 3159 2962
E: email@example.com / firstname.lastname@example.org
May 21, 2018 18:00 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.