普缙：料2026年香港住宅交投续旺价稳 工商物业调整压力未减

Group 1: Residential Property Market - The report by普缙集团 indicates that Hong Kong's residential property prices are expected to remain stable in 2026, with slight increases in some popular areas [1] - The residential leasing market is anticipated to remain robust due to the continuous influx of non-local students and professionals, with rental prices likely approaching historical highs [1] - In 2025, the residential property market benefited from policy adjustments, a low-interest environment, and ongoing purchases by mainland buyers, leading to a significant increase in transaction volume, with nearly 57,000 transactions, a year-on-year growth of approximately 7.3% [1] - Transactions for first-hand and second-hand residential properties were recorded at 18,800 and 38,100 respectively, indicating a gradual release of market purchasing power [1] - Over 20% of overall residential transactions were attributed to mainland buyers, with some new developments seeing this figure rise to 30% [1] Group 2: Non-Residential Property Market - The report highlights a weak overall performance in the non-residential property market in 2025, with commercial buildings, office spaces, and industrial buildings experiencing price declines of approximately 8.8%, 11.1%, and 12.3% respectively [2] - Rental prices also decreased in tandem, with Grade A, B, and C office buildings seeing price reductions of about 9.9%, 15.3%, and 11.3% respectively, while the market vacancy rate remains high [2] - Although demand from financial and professional services has stabilized rental prices for some premium office spaces in core areas, non-core areas continue to face rental pressure [2] - The industrial and warehouse market has been impacted by global trade uncertainties and a decline in local logistics demand, with rental prices dropping approximately 4.2% in the first ten months of 2025 [2] - The report notes that the Hong Kong government is actively optimizing measures for the reconstruction and renovation of industrial buildings, but the industrial market is expected to require more time for adjustment [2] - Overall rental prices for retail shops fell by about 4% in the first ten months of 2025, with stable vacancy rates in core areas, while non-core areas continue to experience rental pressure due to changing consumer patterns [2]