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| Tuesday, 31 July 2018, 18:15 HKT/SGT | |
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Source: RICS & HKIS | |
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HONG KONG, July 31, 2018 - (Media OutReach) - The RICS (Royal Institution of Chartered Surveyors) Hong Kong Commercial Property Monitor Q2 2018, a quarterly sentiment index tracking trends in the commercial property market, indicated optimism and positive momentum for the occupier and investor markets. This was underpinned by the continued recovery of the retail segment. Sentiment surrounding offices and industrial segment remained elevated.
In terms of overall sentiment, the Occupier Sentiment Index (OSI) increased to 23 in Q2 from 14 in Q1. The Investor Sentiment Index (ISI) increased modestly from 19 in Q1 to 23 in Q2.
As for rental demand across sectors, demand for retail space increased in the occupier market since Q2 2013, with landlords offering rent free periods. Survey respondents continued to report an increase in the supply of office and retail properties available to let at a more modest pace in Q2, landlord incentives remained unchanged for these two sectors.
In the investment market, headline investor demand remains robust in office and industrial properties, driven by the increased foreign investment interest in Hong Kong Office space for the eighth consecutive quarter. Respondents reported that the demand for retail properties increased for the first time since Q4 2012, driven by domestic investors.
"Occupier demand increased from across all market segments in Q2, led by demand for office space. Notably, the outlook for rents over the next year was similarly bullish - respondents expect the biggest increase in rents (in net balance terms) since Q3 of 2011," said RICS Chartered Surveyor Mr Frank F Wong MRICS. "The capital values in the overall market are still rising, indicating sustained positive momentum in the investment market".
The outlook for rents was bullish, with the headline rents expected to increase 4.4 per cent over the next year. Respondents see capital values increasing over the next three and 12 months across all segments of the market.
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.
About RICS
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 June Wong
T: +852 3159 2982 / +852 3159 2909
E: peggy.mak@creativegp.com / june.wong@creativegp.com
Topic: Press release summary
Source: RICS & HKIS
http://www.acnnewswire.com
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