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The market has become quieter.
The Hong Kong commercial property investment market turned quieter in Q1 2015, with transaction volume falling significantly.
According to a research note from CBRE, total investment turnover (including transactions worth US$10 million and above, excluding pure land site transactions) during the period decline by 42.2% q-o-q to HK$10.2 billion.
This is the lowest figure since Q3 2013, the report noted.
No transactions worth HK$1.0 billion were recorded. The largest deal was HK$700 million, with the majority of trades at or below HK$300 million.
Here's more from CBRE:
The decline in investment volume was due to a combination of the first quarter traditionally being a quiet period for the market and also because of the lack of assets available for sale.
Tradable stock, particularly en-bloc assets, on the market has fallen significantly after the robust investment activity witnessed in recent quarters.
Given the lack of stock for sale, a number of institutional investors, including several REITs, shifted their focus to development sites during the quarter.
Source: http://hongkongbusiness.hk/commercial-property/news/heres-why-investment-volume-dropped-in-q1-2015
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