Colliers has recently released a Flash Report, Impact of Coronavirus on Hong Kong Property Market. The outbreak of the Novel Coronavirus.
The outbreak of the Novel Coronavirus (COVID-19) that began in December 2019 poses downside risks to China, as well as Hong Kong SAR which faced a tough year in 2019. Market players in Hong Kong generally expect the history of SARS in 2003 to be repeated. If capital values initially decline due to coronavirus, this may well create a chance for investors to enter the market.
Colliers recommends landlords focus on office occupier sectors likely to remain active despite the virus while offering retailers short-term rental relief. Occupiers desiring Central offices should look now given recent increases in the vacancy rate and falling rents. Meanwhile, this is a good chance for growth sectors to expand at lower rental costs.
View the full report here.