Office rental in Central, the most expensive worldwide, is set to extend its biggest decline since the global credit crisis, the world's two biggest property agents say.
- Mon
- Mar 4, 2013
- Updated: 3:27am
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Leasing and sales of retail properties have slowed in the past two months as market turmoil and steep rises in rents and prices bite, agents say.
Property developers are showing an increased interest in buying old colonial-style historic buildings as long-term investments.
A public doctor was accused of embezzling more than HK$2.2 million in housing allowances by claiming rent on a flat he owned and asking another doctor to say he was the owner.
Property sales ended lower last week after their initial rebound following last month's policy address.
Rising demand amid the economic recovery, and the scarce supply of luxury stock could boost luxury rents in Hong Kong by 15 per cent in the next 12 months, Colliers International says.
Some 40 organisations have shown interest in running a creative industry business at the Hollywood Road police quarters site.
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