Uncertain global outlook keeps hong kong property market subdued

January was a quiet month for Hong Kong property markets as the uncertain global economic outlook keeps transactions low, according to the latest monthly report from Knight Frank.

But while the office and residential markets recorded low levels of activity, the retail leasing sector continued to outperform as international brands entering and expanding in Hong Kong competed for prime spaces.

The number of residential sales dropped further in January 2012, falling 18.4% month on month to 3,507 in January, the lowest figure since November 2008. Sales of luxury homes valued over HK$10 million fell 17.4% to 385.

Source: PropertyWire.com