New York, HK offer world's lowest office yields
Sydney
HONG Kong and New York offer the lowest returns for offices among the world's major markets even as prices increase because of demand for high-quality properties, according to broker Savills plc.
Grade-A commercial properties in Hong Kong's central business district yielded 2.85 per cent and New York's 3.29 per cent after excluding tenant incentives, the Savills/Deakin University World Office Yield Spectrum, released on Monday, showed. San Francisco and Singapore had the highest effective yields, at 5.39 per cent and 4.85 per cent respectively.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Shenzhen eases home buying to revive sales in China tech hub
Far East Orchard looks to sell Rendezvous Hotel Perth Central for A$18.5 million
Lendlease Global Reit’s committed portfolio occupancy rises to 88.8% in Q3
No bids for Pine Grove’s mega en bloc sale at S$1.95 billion price
China home sales slump 47% over May Day holiday vs 2023
China builder Vanke tells investors it readied money to pay bond