New | Hong Kong and mainland China commercial real estate markets on track for another stellar year

The mainland China and Hong Kong commercial real estate markets were standout performers in Asia Pacific last year, and investment activity is expected to be remain at similar levels this year, according to property consultant JLL.

Real estate transaction volumes in Hong Kong climbed 66 per cent year-on-year in 2015 to US$12 billion, led by Chinese investors seeking to invest offshore. In the fourth quarter, investment activity doubled to US$4.5 billion, compared with the same period a year ago, JLL said in its latest research report released yesterday.

The last quarter of 2015 witnessed the biggest office transaction in Hong Kong’s history.

Evergrande Real Estate Group acquired MassMutual Tower for HK$12.5 billion. At a unit price of HK$36,000 per square foot , it broke the record for highest unit price for an office property, according to property consultant CBRE.

Seventeen en-bloc transactions were concluded in the fourth quarter, to rank as the busiest quarter in 2015, CBRE said in its report early this month.

In mainland China, transaction volumes reached US$10.5 billion in the final quarter of 2015, up 49 per cent year-on-year. For the full year, volumes were up 51 per cent to a record 179 billion yuan in local currency terms, according to JLL.