{"id":4926,"date":"2020-02-03T11:44:57","date_gmt":"2020-02-03T04:44:57","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4926"},"modified":"2021-06-04T14:50:45","modified_gmt":"2021-06-04T07:50:45","slug":"tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/","title":{"rendered":"Hong Kong drops to the third spot as the largest commercial property market in 2019"},"content":{"rendered":"

Concerns over the US-China trade war, the months-long protests, and the Wuhan pandemic to blame for the decline<\/span><\/p>\n

\"\"
Modern office buildings in Hong Kong. estherpoon\/Shutterstock<\/figcaption><\/figure>\n

Data and analytics firm Real Capital Analytics revealed that Tokyo and Seoul have surpassed Hong Kong as the biggest commercial real estate market in 2019, reported South China Morning Post<\/a>.<\/p>\n

Back in 2018, Hong Kong took the lead, while Tokyo and Seoul came in the second and third spots.<\/p>\n

Managing director of capital market in Asia at Colliers International Terence Tang said: \u201cAfter experiencing years of strong rental and capital value growth, Hong Kong\u2019s property market is entering a downward phase, while the local economy faces pressure from both external and internal volatility and tensions.\u201d<\/p>\n

Since June, Hong Kong has been facing the most catastrophic political impasse in decades, which have distressed the retail and tourism industries. The US-China trade war has also affected the trade and investment activity, as concerns grew over its long-term effect.<\/p>\n

More: Escalation of Wuhan virus threatens more retail sales loss in Hong Kong amid protests<\/a><\/strong><\/p>\n

However, analysts believe that Hong Kong will recover in the next 12 months as reasonable prices return, encouraging a buyers\u2019 market and prompting investors to scour for massive discounts and take advantage of opportunities.<\/p>\n

\u201cAffluent investors and institutional funds are also eyeing opportunities presented by distressed sales of assets,\u201d added Tang.<\/p>\n

Property consultancy CBRE said that the recent Wuhan pandemic has also disrupted the business activity in Hong Kong, leading to \u201cshort-term implications on investment volume.\u201d<\/p>\n

They also revealed that Tokyo has always been the biggest commercial property market in the Asia Pacific region, excluding the one-off large commercial property deal in Hong Kong in 2018.<\/p>\n

Head of occupier research in Asia-Pacific at CBRE Ada Choi said: \u201cFunds across the region have raised capital in the past two years, which they are looking for somewhere to deploy. Japan is an attractive destination because of the depth and the breadth of its market, as well as low-interest costs.\u201d<\/p>\n

On the other hand, “investment momentum in Seoul has been building for some time,” said Real Capital. The property market in Seoul has “more than tripled in the period.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The US-China trade war, the months-long protests, and the Wuhan pandemic to blame for the decline<\/p>\n","protected":false},"author":9,"featured_media":20450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[388,171,115,676],"class_list":["post-4926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","tag-commercial-real-estate","tag-hong-kong","tag-property-investment","tag-real-estate-market","news_country-hongkong","news_country-japan","news_author-property-report"],"acf":[],"yoast_head":"\nHong Kong drops to the third spot as the largest commercial property market in 2019 | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong drops to the third spot as the largest commercial property market in 2019 | Asia Property Awards\" \/>\n<meta property=\"og:description\" content=\"The US-China trade war, the months-long protests, and the Wuhan pandemic to blame for the decline\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/\" \/>\n<meta property=\"og:site_name\" content=\"Asia Property Awards\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/asiapropertyawards\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-03T04:44:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-04T07:50:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_201166895.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gynen Kyra Tirazona Toriano\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:site\" content=\"@AsiaPropAwards\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gynen Kyra Tirazona Toriano\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/\"},\"author\":{\"name\":\"Gynen Kyra Tirazona Toriano\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/694949ea9cae1c04dfdbdcc3680a2a23\"},\"headline\":\"Hong Kong drops to the third spot as the largest commercial property market in 2019\",\"datePublished\":\"2020-02-03T04:44:57+00:00\",\"dateModified\":\"2021-06-04T07:50:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/\"},\"wordCount\":381,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_201166895.jpg\",\"keywords\":[\"commercial real estate\",\"hong kong\",\"property investment\",\"real estate market\"],\"articleSection\":[\"Property Report\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/\",\"name\":\"Hong Kong drops to the third spot as the largest commercial property market in 2019 | Asia Property Awards\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_201166895.jpg\",\"datePublished\":\"2020-02-03T04:44:57+00:00\",\"dateModified\":\"2021-06-04T07:50:45+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_201166895.jpg\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/shutterstock_201166895.jpg\",\"width\":1000,\"height\":667},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Hong Kong drops to the third spot as the largest commercial property market in 2019\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"name\":\"Asia Property Awards\",\"description\":\"PropertyGuru Asia Property Awards\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#organization\",\"name\":\"Asia Property Awards\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"contentUrl\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/Trophy_2.png\",\"width\":1920,\"height\":1080,\"caption\":\"Asia Property Awards\"},\"image\":{\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/asiapropertyawards\",\"https:\\\/\\\/x.com\\\/AsiaPropAwards\",\"https:\\\/\\\/www.instagram.com\\\/asiapropertyawards\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/showcase\\\/asia-property-awards\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCCMEFMU-KW5dEKfb5dPTL9Q\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/#\\\/schema\\\/person\\\/694949ea9cae1c04dfdbdcc3680a2a23\",\"name\":\"Gynen Kyra Tirazona Toriano\",\"url\":\"https:\\\/\\\/www.asiapropertyawards.com\\\/en\\\/author\\\/gynen\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Hong Kong drops to the third spot as the largest commercial property market in 2019 | Asia Property Awards","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/","og_locale":"en_US","og_type":"article","og_title":"Hong Kong drops to the third spot as the largest commercial property market in 2019 | Asia Property Awards","og_description":"The US-China trade war, the months-long protests, and the Wuhan pandemic to blame for the decline","og_url":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/","og_site_name":"Asia Property Awards","article_publisher":"https:\/\/www.facebook.com\/asiapropertyawards","article_published_time":"2020-02-03T04:44:57+00:00","article_modified_time":"2021-06-04T07:50:45+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_201166895.jpg","type":"image\/jpeg"}],"author":"Gynen Kyra Tirazona Toriano","twitter_card":"summary_large_image","twitter_creator":"@AsiaPropAwards","twitter_site":"@AsiaPropAwards","twitter_misc":{"Written by":"Gynen Kyra Tirazona Toriano","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#article","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/"},"author":{"name":"Gynen Kyra Tirazona Toriano","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/694949ea9cae1c04dfdbdcc3680a2a23"},"headline":"Hong Kong drops to the third spot as the largest commercial property market in 2019","datePublished":"2020-02-03T04:44:57+00:00","dateModified":"2021-06-04T07:50:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/"},"wordCount":381,"commentCount":0,"publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_201166895.jpg","keywords":["commercial real estate","hong kong","property investment","real estate market"],"articleSection":["Property Report"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/","url":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/","name":"Hong Kong drops to the third spot as the largest commercial property market in 2019 | Asia Property Awards","isPartOf":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#primaryimage"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#primaryimage"},"thumbnailUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_201166895.jpg","datePublished":"2020-02-03T04:44:57+00:00","dateModified":"2021-06-04T07:50:45+00:00","breadcrumb":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#primaryimage","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_201166895.jpg","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_201166895.jpg","width":1000,"height":667},{"@type":"BreadcrumbList","@id":"https:\/\/www.asiapropertyawards.com\/en\/tokyo-seoul-surpass-hong-kong-largest-commercial-real-estate-market-2019\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.asiapropertyawards.com\/en\/"},{"@type":"ListItem","position":2,"name":"Hong Kong drops to the third spot as the largest commercial property market in 2019"}]},{"@type":"WebSite","@id":"https:\/\/www.asiapropertyawards.com\/en\/#website","url":"https:\/\/www.asiapropertyawards.com\/en\/","name":"Asia Property Awards","description":"PropertyGuru Asia Property Awards","publisher":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.asiapropertyawards.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.asiapropertyawards.com\/en\/#organization","name":"Asia Property Awards","url":"https:\/\/www.asiapropertyawards.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","contentUrl":"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/12\/Trophy_2.png","width":1920,"height":1080,"caption":"Asia Property Awards"},"image":{"@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/asiapropertyawards","https:\/\/x.com\/AsiaPropAwards","https:\/\/www.instagram.com\/asiapropertyawards\/","https:\/\/www.linkedin.com\/showcase\/asia-property-awards","https:\/\/www.youtube.com\/channel\/UCCMEFMU-KW5dEKfb5dPTL9Q"]},{"@type":"Person","@id":"https:\/\/www.asiapropertyawards.com\/en\/#\/schema\/person\/694949ea9cae1c04dfdbdcc3680a2a23","name":"Gynen Kyra Tirazona Toriano","url":"https:\/\/www.asiapropertyawards.com\/en\/author\/gynen\/"}]}},"_links":{"self":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/4926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/comments?post=4926"}],"version-history":[{"count":0,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/posts\/4926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media\/20450"}],"wp:attachment":[{"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/media?parent=4926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/categories?post=4926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asiapropertyawards.com\/en\/wp-json\/wp\/v2\/tags?post=4926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}