Zhongyuan (Commercial Properties): Hong Kong recorded 209 cases of rental transactions in December last year, with a sharp month-on-month drop of about 35.49%.

19:27 22/01/2025

He Jiechai, the senior area manager of commercial property leasing department at Zhongyuan (Commercial Property), stated that according to Zhongyuan (Commercial Property) data, Hong Kong recorded 209 lease transactions in December last year, a sharp drop of about 35.49% compared to November, and a decrease of about 28.42% year-on-year. The transaction amount was about 19.59 million Hong Kong dollars, a month-on-month decline of about 44.36% and a year-on-year decrease of about 37.51%.

He Jiechai, senior area business director of the Central Plains (Commercial Shop) Shop Lease Department, stated that according to Central Plains (Commercial Shop) data, Hong Kong recorded 209 rental transactions in December last year, a sharp drop of about 35.49% from November, and a decrease of about 28.42% year-on-year; the total rental amount reached about 19.59 million Hong Kong dollars, a decrease of about 44.36% month-on-month and a decrease of about 37.51% year-on-year. Some large rental transactions were recorded within the month, including shop 3 on the underground, ground, and first floor of 26 Nathan Road in Tsim Sha Tsui, with an area of approximately 8,500 square feet, and a monthly rental of approximately 1 million Hong Kong dollars. The average rent is about 118 Hong Kong dollars per square foot, leased by Hing Yip Securities Brokerage. As for the trend of vacancy rates, He Jiechai further stated that in December, the vacancy rates of core shopping areas remained stable. Central performed the best, with the latest vacancy rate recorded at 6.93%, a decrease of about 0.41 percentage points month-on-month and a decrease of 1.25 percentage points year-on-year; the latest vacancy rate in Causeway Bay was about 6.04%, with a slight decrease of about 0.05 percentage points month-on-month. On the other hand, the vacancy rates in Kowloon, including Tsim Sha Tsui and Mong Kok, increased slightly by 0.04 and 0.01 percentage points month-on-month, but there was a significant improvement year-on-year, with the vacancy rate in Tsim Sha Tsui lower than the same period last year, with a decrease of about 3.11 percentage points.

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