香港月刊2025年5月

Price(Gross)HK$psf--28,46925,16524,09621,30618,909--12,875--10,424- knightfrank.com.hk/researchFig 1. Grade-A office rents andprices2007 = 100Source: Knight Frank Research20072008200920102011201220132014201520162017201820192020202120222023Hong Kong Island price indexHong Kong Island rental indexKowloon price indexKowloon rental indexChangeVacancyYoY%Jan 19%Apr 25%-------7.51.213.8-7.21.97.6-7.01.310.7-7.71.711.6-6.61.56.0-6.916.3-1.113.6-7.11.89.0-1.925.0-11.311.1-9.27.520.0---Source: Knight Frank ResearchNote: Rents and prices are subject to revision. 20241502503504502025MoM%---0.8-0.9-0.9-0.8-1.0---0.9---1.0- ResidentialFig 2. Luxury residential rents and prices2007 = 100Price indexRental index20072008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025The residential market remained quiet due to the holiday season. However, there has been anoticeable uptick in inspections and inquiries from local buyers. This optimism is fueled byrevised Hibor rates, the significant de-escalation of the US-China trade war, and a recoveringstock market. In the leasing market, notable activity has been recorded in Mid-Levels,particularly for 800 to 1,000 sq ft units, which are popular among families seeking homes withstorage space.Selected residential sales transactions(April 2025)DistrictBuildingThe PeakLa HaciendaPok Fu LamMount PokfulamMid-Levels Central21 Borrett RoadMid-Levels CentralTregunter 3Mid-Levels WestAlassioRepulse BayRepulse Bay GardenTsim Sha TsuiThe ArchSelected residential lease transactions(April 2025)DistrictBuildingMid-Levels CentralDynast CourtMid-Levels CentralThe AlbanyMid-Levels WestRobinson PlaceRepulse BayGrosvenorRepulse BayRepulse Bay GardenTsim Sha TsuiThe Arch 7090110130150170190210Source: Knight Frank Research50Fig 3. Mass residential rents and prices2007 = 100Price indexRental index2007 2008 2009 20102011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025Source: Knight Frank Research / Rating and Valuation DepartmentTower / floor / unitSaleable area(sq ft)(HK$ million)Tower A, 2/F, Unit 32,734House 86C4,802Phase 1, 1/F, Flat 32,065Tower 3, 16 /F, Unit B1,5479/F, Unit A1,01114/F, Unit 242,049T2-Star Tower, 71/F, Unit A1,382Note: All transactions are subject to confirmation.Tower / floor / unitLettable area(sq ft)Monthly rentTower 3, Low Floor, Unit A1,530Mid Floor, Unit A1,308Tower 1, Low Floor, Unit B1,060High Floor1,975High Floor, Unit 402,049Tower 2A, Low Floor, Unit B960Note: All transactions are subject to confirmation. We like questions. If you’ve got one about our research, or would like some property advice,we’d love to hear from you.Research & ConsultancyMartin WongSeniorDirectorHead of Research & Consultancy,Greater China+852 2846 7184martin.wong@hk.knightfrank.comFig 4. Retail rents and sales204060801001201401601800201120122013Price index2011 = 100RetailHong Kong’s retail landscape is undergoing profound changes, affecting both traditional and trendyretailers alike. In April and May, several prominent food and beverage establishments have succumbedto these challenges. Notably, Ocean Empire Food Shop closed its doors due to a dramatic shift indining habits, leading to declining sales and persistent losses. In a similar vein, After You DessertCafé, a popular Asian chain among the younger generation that opened its first overseas branch inHong Kong during the pandemic in 2022, has also announced its closure. Both establishments aregrappling with the impacts of increased traveling by residents, ongoing economic uncertainty, andrising operational costs, marking a troubling trend for the city’s vibrant dining scene.Notable retailers closed down (April – May 2025)F&B NameAfter YouDessert CaféOcean EmpireFood Shop Knight Frank Research provides strategic advice, consultancy services and forecasting to a wide range of clients worldwide including developers, investors,funding organisations, corporate institutions and the public sector. All our clients recognise the need for expert independent advice customised to their specificneeds.Important Notice:©Knight Frank 2025: This document and the material contained in it is general information only and is subject to change without notice. Allimages are for illustration only. No representations or warranties of any nature whatsoever are given, intended or implied. Knight Frank will not be liable for negligence,or for any direct or indirect consequential losses or damages arising from the use of this information. You should satisfy yourself about the completeness or accuracyof any information or materials and seek professional advice in regard to all the information contained herein.This document and the material contained in it is the property of Knight Frank and is given to you on the understanding that such material and the ideas, concepts andproposals expressed in it are the intellectual property of Knight Frank and protected by copyright. It is understood that you may not use this mater