Singapore-based investors accounted for 62 percent of non-local commercial property investment in Hong Kong during the second quarter, according to Colliers.

Singapore-based investors have overtaken other non-local groups to become the largest buyers of commercial properties in Hong Kong. According to Colliers, the shift in investment activity during the second quarter was driven by significant price corrections in the city's office sector.

Investment Trends and Market Drivers

Between April and June, non-local and mainland Chinese investment in Hong Kong commercial property reached HK$5.46 billion. Singaporean buyers accounted for HK$3.37 billion of this total, representing 62 percent of the investment volume. In contrast, mainland Chinese investors contributed HK$1.23 billion during the same period. Thomas Chak, head of capital markets and investment services at Colliers, noted that office asset prices have declined by as much as 50 percent. This correction has made Hong Kong properties more attractive to Singaporean investors, who are seeking to acquire quality assets at a discount in anticipation of a long-term market recovery.

Notable Acquisitions

Key transactions involving Singaporean entities in the second quarter included DBS Bank (Hong Kong) Ltd's purchase of 152,000 square feet of space at The Center for approximately HK$2.62 billion. Additionally, Wee Hur Holdings acquired the One Bedford Place office building in Tai Kok Tsui for HK$748.8 million.