Hong Kong’s anti-China protests have now been going for fourth months, and one thing is crystal clear they are bad news for the city’s property market.
In the third quarter, leasing demand for grade A office space has weakened, while in the residential market both transaction volumes and prices have fallen, according to research from property services firm Colliers.
The total number of residential transactions declined 40% quarter-on-quarter, while, grade A office rents, which were already declining, fell more sharply by 2.4% in the third quarter. Moreover, rents in the retail market dropped by 7%.
Accordingly, developers have taken a big hit. Shares in...
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