Commercial property sentiment stalls in Q4 2024 amidst market imbalance

Student housing is expected to be the most financially viable sector in 2025.

Commercial property sentiment improved slightly in Q4 2024 to -37 from -50 in Q3 2024, according to the Royal Institution of Chartered Surveyors (RICS) latest Commercial Property Monitor.

Property supply remained stable at +41 from +39 in Q3 whilst property demand remains low at -42. RICS said that the imbalance between demand and supply is creating pressure on the market.

In addition, new developments being built across Hong Kong continue to stall at -42 compared to -44 in Q3.

Over the next 12 months, RICS expects student housing to be the most financially viable sector at 25%.

Meanwhile, hotel and multifamily occupancies are expected to decline, with projected financial viability at -1.5% and -1%, respectively.

“The commercial property market in Hong Kong is challenged by economic downturns and macroeconomic shocks, necessitating structural policy support,” Donglai Luo, senior economist at RICS said.

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