Newsletter

Written by Nelson Li, Head of IQI Hong Kong Hong Kong’s office sector recorded a positive shift, achieving 143,700 sq ft of net absorption, largely driven by increased leasing activity from banks and multinational firms. The overall office vacancy rate dipped to 13.4%, with Central improving to 11.0% and Wanchai/Causeway Bay easing to 12.0%. Rents slipped marginally by 0.1% month-on-month, though early stabilisation signs appeared in select prime buildings. A notable transaction saw a whole floor in COSCO Tower sold for HKD 220 million, the lowest price recorded there since 2010, reflecting the market’s adjustment phase. Overall, it signalled gradual stabilisation as corporate tenants continued consolidating and upgrading workspace. In the residential sector, momentum strengthened as primary market transactions rose 10.8% m-o-m to 1,974 units, while secondary sales climbed to 3,669 units, lifting total activity by 6.7%. Mass residential capital values increased by 0.6%, reversing August’s decline. Lower financing pressure helped support sentiment as the one-month HIBOR reached 3.6% and banks reduced prime rates following the US rate cut. Demand for new launches remained strong, with The MVP in Mid-levels West selling all 50 units in its first release. The luxury segment also saw activity, highlighted by a HKD 138 million sale at One Stanley. These trends point toward a market gradually recalibrating under improving liquidity and buyer sentiment. For more countries updates:Download Now!

Written by Manu Bhazin, Country Head of India India’s retail industry is undergoing a major transformation, fuelled by rising disposable incomes, rapid urbanisation, a young demographic profile and growing appetite for premium consumer experiences. According to BCG–RAI, the retail sector valued at ₹82 lakh crore in 2024 is projected to surpass ₹190 lakh crore by 2034, driven largely by the expanding middle-income segment and strong discretionary spending in fashion, F&B, beauty and entertainment. On the real estate front, India has added 18.6 million sq. ft. of mall supply in the last five years, bringing Grade A retail stock to 88.7 million sq. ft., with Mumbai, Delhi-NCR and Bengaluru contributing 63% of this inventory. Retail leasing has also remained remarkably resilient, with over 22 million sq. ft. absorbed since 2023, supported by international brand entries, growing retail REIT activity and strong institutional interest. At the same time, India’s retail real estate is evolving toward experience-led formats, with new malls becoming larger, averaging over 1 million sq. Ft. and focused on entertainment zones, destination dining, wellness and social experiences. This marks a clear shift in consumer behaviour as malls transition from shopping venues to multi-purpose lifestyle destinations. The combined effect of rising demand, sophisticated brands, and modern mall infrastructure signals the emergence of a more competitive and globally aligned retail ecosystem. As India enters its next phase of economic rise, its retail landscape is becoming bigger, bolder and more experiential, reflecting the confidence of a young and rapidly growing consumer-driven nation.  For more countries updates:Download Now!

Written by Emmanuel Andrew Venturina, Head of IQI Philippines Cavite is solidifying its position as one of the Philippines’ most dynamic property markets, driven by a strong local economy anchored in manufacturing, outsourcing and leisure industries. Improved road connectivity across South Luzon has transformed Cavite from a suburban extension of Metro Manila into a vibrant urban center and major satellite city, attracting national developers eager to invest beyond the capital. Industrial activity is expanding quickly, supported by manufacturing operations in automotive, semiconductors, and packaging, and strengthened further by new foreign investment pledges secured under the Marcos administration.These investments are expected to boost industrial space absorption, job creation and long-term economic activity across the province. This industrial momentum is directly fuelling residential demand, especially in General Trias, where lot-only developments have achieved 60 to 100 percent take-up and upscale projects priced between P4 million and P10 million account for nearly half of sales. Affordable and economic housing units priced from P580,000 to P3.2 million are also nearly sold out, with General Trias’ average house-and-lot price reaching P3.2 million per unit. With its strong residential base, proximity to industrial parks and expanding infrastructure, Cavite is positioned to become the next major real estate growth corridor in South Luzon. The rollout of transformative projects such as Calax and the Silang Interchange, expected to be fully operational by 2026, is set to elevate land values and accelerate the province’s property development cycle even further. For more countries updates:Download Now!

Pakistan’s tourism driven and coastal real estate sector gained strong momentum in 2025, supported by domestic travel demand and increasing global investor interest. Key destinations such as Gwadar, Karachi’s coastline and the northern mountain regions are rapidly emerging as real estate hotspots. Gwadar is undergoing a major transformation under CPEC, with the Gwadar Development Authority establishing a 2,585-acre Central Business District with valuable coastline frontage. Karachi’s luxury waterfront is also being reshaped by large-scale developments such as Emaar Oceanfront, a 75-acre seafront community offering premium apartments and penthouses, and Goldcrest Bays Sands, which provides sea-facing homes with private beaches and resort-style amenities. In Gwadar, Oshun by Eiwan is among the first beachfront resort-style residential developments, combining coastal and mountain views to capture rising CPEC-driven demand. Government-backed planning, sustainable infrastructure and smart-city frameworks are adding further confidence to the market. International capital is flowing in, highlighted by Gentry Beach, a US-based investor announcing a multi-billion-dollar plan for high-rise and mixed-use luxury projects in Karachi and Islamabad. Premium coastal developments prioritise master planning, eco-friendly design and lifestyle offerings, including signature towers and waterfront promenades. For investors, these projects offer dual income potential, combining short-term rental opportunities with long-term capital appreciation. With globally recognised brands like Emaar involved and smart-city infrastructure underway, Pakistan’s coastal and tourism-anchored real estate sector is positioned for strong premium returns as the country opens its coastline to more institutional and overseas capital. For more countries updates:Download Now!

Written by Dustin Trung Nyugen, Head of Vietnam Apartment prices in Hanoi have surged sharply over the past decade, with values now exceeding VND100 million (US$3,786) per sqm across several major projects. Some developments have seen prices rise more than 2.5 times since launch, and year-on-year gains remain substantial, including 39% at Royal City, 36% at Park View City, 32% at Hinode City, and 29% at Times City. This rapid appreciation has firmly established VND100 million per sqm as the new benchmark for mid- to high-tier apartments in the capital. In Ho Chi Minh City, the trend is even more pronounced. More than 50% of the 5,500 units launched last quarter were priced at or above VND100 million (US$3,800) per sqm, reinforcing the dominance of the high-end segment. Average prices in HCMC climbed 21% to VND96 million per sqm, with surrounding provinces Ba Ria–Vung Tau and Binh Duong showing similar upward momentum after being merged administratively with the city. Together, these developments indicate a sustained upward trajectory for Vietnam’s residential market, driven by strong demand and limited supply in key urban centres.For more countries updates:Download Now!

Written by Yousaf Iqbal, Head of IQI CanadaCanada’s housing market held steady in October 2025, with national sales dipping 0.8% and average prices settling at C$676,000, slightly higher than September but 1.5% below last year. The Bank of Canada’s move to lower rates to 2.25% provided some relief for buyers, although affordability remained stretched in major cities. Toronto and Vancouver continued to soften as new listings increased and prices adjusted downward, while Prairie markets like Calgary and Edmonton remained notably strong. Across the country, moderating rents and rising supply supported more balanced market conditions. Overall, early signs of stabilisation are emerging as Canada moves toward 2026 under a lower-rate environment.Regional dynamics showed clear divergence. The GTA saw a 9.5% drop in sales and a 7.2% decline in average prices, reinforcing a buyer-friendly landscape as inventory grew and the MLS® HPI fell 5% year-over-year. Vancouver posted a 14% drop in sales and a 13.2% rise in active listings, pushing prices lower across all housing types. Meanwhile, Quebec stood out as the strongest performer, with sales rising 8% and prices increasing across all categories: single-family homes up 8%, condos up 5%, and plexes up 17%.These contrasting trends highlight Canada’s multi-speed market, shaped by affordability gaps, inventory shifts, and varying local economic conditions.For more countries updates:Download Now!

Written by Lily Chong, Head of IQI AustraliaAustralia’s housing market continued its strong recovery in October, with national home values climbing 1.1% — the sharpest monthly gain since June 2023. This marks a turning point since the first rate cut in February, which reignited growth momentum after a brief slowdown late last year. According to Cotality’s research director, Tim Lawless, housing values have surged 6.1% nationally over the past year, with every capital city and regional market posting gains in October — led by Perth (+1.9%) and Hobart (+0.3%). Across the combined capitals, the median dwelling value rose by over $10,000 in October alone, bringing total growth since February to nearly $54,000. The rise is largely driven by strong demand amid tight supply, with home sales tracking 3.1% above the five-year average while listings remain 18% below average. This imbalance has continued to favour sellers, reflected in solid auction clearance rates hovering between the high 60s and low 70s.Additional momentum has come from the expanded 5% Deposit Guarantee Scheme, effective from October 1, boosting activity among first-home buyers and investors. Growth has been most pronounced across the lower and middle price brackets, where affordability and incentives are strongest, while the premium segment shows more moderate increases. Looking ahead, market analysts expect housing values to remain on an upward trend into early 2026, supported by limited housing supply, resilient buyer demand, and stable lending conditions. However, affordability pressures and future interest rate movements will continue to influence the pace of growth across different price segments and cities. For investors and homeowners alike, Perth’s property market presents exciting opportunities. Whether you’re considering selling, buying, or investing, now is the time to explore your options. Contact our team at sales@iqiwa.com.au to discuss your property goals today. For more countries updates:Download Now!

The global real estate markets continued to show encouraging momentum, with many countries experiencing rising home values, stronger buyer confidence, and healthier market activity as conditions gradually improve.Explore the latest market trends and expert insights inside the December 2025 Juwai IQI Monthly Newsletter.Click here to discover moreDownload Now!