12336 3 Linkage: Hong Kong's commercial property market saw 336 transactions in December, the third highest for the year.

Ricacorp Properties (Commercial Properties) director Wong Ying-nien stated that benefited from the interest rate cut and the restoration of the "one sign multiple transactions" policy, the buying and selling of commercial properties, although softened slightly from the peak earlier in the year, is still relatively high and stable, maintaining a cautiously optimistic outlook for the future. According to preliminary temporary figures from the Land Registry, in December 2024, a total of 336 commercial property transactions were registered in Hong Kong, a decrease of 11.4% from the 379 transactions in November, still the third-highest month of the year; the total value of registrations for the month reached HK$7.288 billion, a significant increase of 73.4% from the previous month, the highest in nearly 11 months. In December, the number of registrations for the three major categories of properties saw a decrease in two categories and an increase in one: industrial buildings decreased by more than 20%, commercial buildings also decreased by 7.5%, while shops bucked the trend with an increase of more than 10%. Zhu Liang-hang, Senior Business Director of the Commercial Department of Ricacorp Properties (Commercial Properties), pointed out that the number of registrations for industrial buildings in Hong Kong in December dropped significantly from the peak in November, but still remained the second-highest in nearly four months, reflecting the continued decline in local interest rates in Hong Kong, providing certain support for the market conditions; the proportion of registrations for industrial buildings last month fell to 47.6%, a decrease of 7 percentage points month-on-month. Preliminary figures show that in December, a total of 160 registrations for industrial buildings were recorded, a significant decrease of 22.7% or 47 transactions month-on-month. As for the total value of registrations for industrial buildings in December, it reached HK$1.135 billion, a simultaneous decrease of 20% and the second-lowest in nearly nine months. Regarding the buying and selling of commercial buildings, Wong Ying-nien stated that due to the interest rate cut and the stimulus measures to support the market, the transactions of commercial buildings became more active towards the end of last year, although there was a slight dip in December, it still remained at a high level for the year, reflecting the return of investors and users to the market. In summary, a total of 74 transactions for commercial buildings were registered in December, a slight decrease of 7.5% from the 80 transactions in November, still performing well. The total value of registrations for commercial buildings surged against the trend, more than doubling to HK$4.608 billion, setting a new monthly high for December 2024. As for the market for shops, Zheng Der-ming, Senior Business Director of the Shop, Commercial, and Investment Department of Ricacorp Properties (Commercial Properties), pointed out that the "one sign multiple transactions" effect has become evident, with the buying and selling of shops reaching a new high in 16 months, surpassing one hundred transactions for the first time in the period. Data shows that in December, a total of 102 shop transactions were registered, an increase of 10.9% from the previous month, marking the second consecutive month of increase. The total value of registrations for shops in December reached HK$1.545 billion, also a 30% increase month-on-month, achieving a simultaneous increase in transaction volume.