Southeast Asian Buyers Overtake Mainland Investors in Hong Kong Commercial Property
SCMP · 1 SOURCES1 day ago2 MIN
Summary
Southeast Asian investors have emerged as the leading non-local buyers of Hong Kong commercial property in 2026, led by Singapore-based capital, according to Savills data released on Tuesday. As of September 15, total commercial property transactions above HK$50 million reached HK$30.36 billion, with Southeast Asian buyers contributing HK$3.37 billion (11 per cent) — roughly two-thirds of all non-local investment this year. This represents a notable reversal from 2025 when mainland Chinese investors held the top position.
Key Points
- Total commercial property transactions above HK$50 million in Hong Kong reached HK$30.36 billion (US$3.87 billion) as of Tuesday
- Southeast Asian investors contributed HK$3.37 billion (11 per cent) of total, surpassing mainland buyers at HK$1.75 billion (5.8 per cent)
- Hong Kong-based capital accounted for HK$25.25 billion (83.2 per cent), maintaining dominant market share
- DBS Bank (Hong Kong) acquired 152,000 square feet across several floors at The Center for approximately HK$2.62 billion
- Wee Hur Holdings purchased One Bedford Place in Tai Kok Tsui, an office building with 184,041 square feet, for HK$748.8 million
- A Singapore-based group acquired luxury estate Jadebeach Villa in Chung Hom Kok, Southern district, for nearly HK$1.17 billion last week
Why It Matters
The rise of Southeast Asian capital to the top of non-local investment in Hong Kong commercial property signals a diversification away from mainland Chinese buyers, who dominated last year with HK$16.06 billion. Nicholas To, senior associate director for investment at Savills Hong Kong, noted that Southeast Asia's share has risen against a much smaller non-local pool. Meanwhile, Western investors have been absent this year, and US and Canadian buyers, who contributed HK$7.58 billion (16 per cent) last year, have also stepped back. This shift may influence property valuations and market dynamics in Hong Kong's commercial real estate sector.
The rise of Southeast Asian capital to the top of non-local investment in Hong Kong commercial property signals a diversification away from mainland Chinese buyers, who dominated last year with HK$16.06 billion. Nicholas To, senior associate director for investment at Savills Hong Kong, noted that Southeast Asia's share has risen against a much smaller non-local pool. Meanwhile, Western investors have been absent this year, and US and Canadian buyers, who contributed HK$7.58 billion (16 per cent) last year, have also stepped back. This shift may influence property valuations and market dynamics in Hong Kong's commercial real estate sector.