According to recent market observations, retail property transactions have shown signs of recovery, with Jones Lang LaSalle Capital Markets Senior Director Tang Kit-ying noting that as shop prices have corrected significantly, both local and overseas capital have increased their interest in entering the market. Properties valued below HK$100 million in core districts are particularly attracting competition from multiple sources of funding.

Statistics from Jones Lang LaSalle indicate that retail property transactions of HK$20 million or above reached approximately HK$20 billion in 2022, but have trended downward in subsequent years, with last year recording around HK$11.2 billion. For the first eight months of this year, transactions have reached approximately HK$8 billion, showing a slight improvement in momentum. Tang noted that investment sentiment has further strengthened in the past two months, with retail property sales recorded in areas such as Tsim Sha Tsui and Central.

Regarding the retail property market, Tang believes the key difference compared to office and residential markets is that nearly all retail property buyers are investors, making it the most accurate reflection of market outlook. "Among recent buyers, we see small and medium-sized investors, new entrants, family funds seeking rental income, as well as Southeast Asian conglomerates looking for properties with stable returns."

She cited an example of a Causeway Bay shop currently being marketed at around HK$50-60 million, which has received numerous inquiries and bids. "As long as the property is in a core district and valued below HK$100 million, the response is very positive." Tang analyzed that retail properties have attracted attention from multiple funding sources mainly because prices have fallen 70% from their peak, core district rents have begun to stabilize, and yields generally exceed 4%, meeting investor requirements.