Hong Kong coronavirus: shops change hands at a faster pace as owners bet on a retail sales revival amid tapering Covid-19
- Deals for shopping units could total 1,400 in the second half, after 901 transactions were recorded in the first half
- Shop prices are likely to rise between 10 and 15 per cent in the second half, according to Centaline Commercial
The optimism has seen some early investors, including one mainland-backed company, make some big-ticket purchases last month.
The number of transactions for shops could total 1,400 in the second half alone, compared to the 901 deals recorded in the first half, as more investors pile into the market, according to Centaline Commercial.
“The pace of investors entering the market has become [faster],” said Raiky Wong Wai-kei, director of retail department at Centaline. “Many buyers and tenants will take advantage of this period of time when there is still room for negotiation on prices and terms.”
First-half deals for shops surged 131 per cent to 901 from 390 a year earlier, the most since the first half of 2018, before the outbreaks of social unrest and the coronavirus pandemic dragged the economy into a recession, according to Centaline data.