Overall the industrial sales market slowed in January month-on-month, with 18.5% fewer transactions taking place, accounting for HK$607.0 million. 115,723 sq. ft. (Saleable) of industrial space was transacted last month at an average unit rate of HK$5,294/sq. ft., a 4.2% decrease from December.

Kwai Tsing and Kwun Tong Districts were the top two districts on a number of transactions and unit rate basis, with Sham Shui Po and Eastern Districts claiming the highest unit rates. 

Sales Analysis - Breakdown by Submarket and Building

Smaller size units (under 1,000 sq. ft. SFA) were the most popular with 46 such transactions, and around 94% of the transactions in the month being single unit transactions. Companies accounted for the most common buyer type for industrial units at 52%, whereas individuals were responsible for selling the most units (51%).

See the detailed data and charts in our full report at the end of this article.

Submarket Analysis - Tsuen Wan Industrial Stock

Tsuen Wan is home to a number of Hong Kong’s key industrial properties, including a number of properties in the Goodman portfolio, a SUNeVision data centre, as well as logistics and freight forwarding facilities.

The district has seen a steady supply of industrial stock over the last 50 years, gradually accumulating over 31.7 million sq. ft., distributed over 93 buildings (that are currently tracked by Real Estate Analytics). With a low of 1,103 sq. ft., and a high of 53,056 sq. ft., typically, floorplates in the district ranged between 16,900 - 20,500 sq. ft.

Read more in our full report at the end of this article.

Report Remarks:

• All area figures in Saleable Floor Area (SFA), in accordance with the Hong Kong Institute of Surveyors Measuring Standards, unless stated otherwise.
• Registered transaction data concerns all registered industrial Agreement from Sale and Purchase Agreement (completion date) transactions throughout the months of December 2023 and January 2024.
• Data sources: Hong Kong Land Registry, Real Estate Analytics.
• The number of transactions by square foot range does not equal the total number of transactions due to some missing or unverifiable floor plans.

Download the full report (PDF) here:  Feb 2024 - REA HK Industrial Sector Report.pdf

Should you have any questions regarding the report or our solutions for Hong Kong, please contact us at:

• Call or WhatsApp: +852 6992 3578 (Gary Walter MRICS)
• Email: gary.walter@rea-hk.com

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