This statistic shows the price per square foot in selected prime residential markets worldwide in 2018. Hong Kong was the most expensive residential market globally with average prime residential values of ***** U.S. dollars per square foot.

In 2023, the average price of permanent housing in Hong Kong Island dropped to around ******* Hong Kong dollars per square meter on average. The city had the highest property prices in the region.

Housing Index in Hong Kong decreased to 137.10 points in August 31 from 138.11 points in the previous week. This dataset provides - Hong Kong House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2019, Hong Kong had the most expensive residential property market worldwide, with an average price per square foot of 1,987 U.S. dollars.

Hong Kong

Hong Kong, an autonomous special administrative region of China, has one of the least affordable housing markets in the world. A region with an estimated 7.49 million people, it has become increasingly difficult to purchase a home in Hong Kong. The spoken languages in Hong Kong are Cantonese, Mandarin, and English.

Hong Kong housing market

The housing market in Hong Kong has seen an increase in prices in the past couple years. There are two types of housing unit offers in Hong Kong, private and public. The number of public rental housing units has been consistently rising since 2008. Nearly half of the public rental apartments in Hong Kong as of March 2018 were between 30 and 39.9 square meters. Not only has the number of public rental housing units increased since 2008, so have the private ones. However, there are more private housing units than public ones in Hong Kong. Additionally, the Home Ownership Scheme exists in Hong Kong. It is a government sponsored program that subsidizes public housing in Hong Kong. First created in the late 1970s, it was instituted with two targets in mind. The first was to persuade the richer tenants of these apartments to leave so families in greater need could live there. The second was to allow these families to become home owners, since they did not have enough money to buy in the private sector. Under this program, the government sells apartments to qualified low-income tenants at prices below the market value.

In the second quarter of 2025, London (West End) was the market with the most expensive prime office space worldwide. The net effective cost for a prime office in London cost close to ****** U.S. dollars annually. In second and third markets in the ranking, Hong Kong and Midtown New York, prices also exceeded *** U.S. dollars per square foot, with Hong Kong at ****** U.S. dollars and New York Midtown at ****** U.S. dollars. The global office real estate sector was severely affected by the coronavirus pandemic and the political and economic uncertainty that followed. With many companies placing expansion plans on hold and transitioning to hybrid working models, vacancies across many markets spiked and leasing activity slowed down.

In 2018, Hong Kong was the most expensive residential market globally with average ultra-prime residential values of ***** U.S. dollars per square foot. Ultra prime residential properties are defined as the top five percent of the market by price.

In the first quarter of 2025, the annual prime office rental rate in Hong Kong was approximately *** U.S. dollars per square foot. In comparison, the annual occupancy cost of prime office real estate in Kuala Lumpur was about **** U.S. dollars per square foot during the same period.

The ASEAN office real estate market, valued at approximately $100 million in 2025, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) exceeding 9% from 2025 to 2033. This expansion is fueled by several key factors. The region's burgeoning economies, particularly in Vietnam, Indonesia, and the Philippines, are attracting significant foreign direct investment, driving demand for modern office spaces. Technological advancements and the rise of the digital economy are also contributing to increased office space needs, particularly in tech hubs across the ASEAN nations. Furthermore, a growing middle class and a young, increasingly skilled workforce are bolstering the demand for high-quality office accommodations in major cities like Singapore, Bangkok, Ho Chi Minh City, and Jakarta. However, challenges remain. Supply chain disruptions and global economic uncertainties could impact the market's trajectory. Additionally, varying regulatory frameworks across different ASEAN countries may pose obstacles for seamless market integration and development. Despite potential challenges, the long-term outlook remains positive. Strategic investments in infrastructure development, coupled with government initiatives to enhance business environments, are expected to sustain market growth. The increasing adoption of flexible workspaces and sustainable building practices will also shape future market dynamics. Competition among established players like Savills, CBRE, Hines, and local developers is expected to intensify, leading to innovations in design, technology integration, and tenant service offerings. This competitive landscape, along with the underlying economic strength of the region, promises continued expansion for the ASEAN office real estate market in the coming years. While precise regional breakdowns are unavailable, Singapore and Thailand are likely to dominate in terms of market share given their established economies and mature real estate markets. Vietnam, Indonesia, and the Philippines represent high-growth areas with significant potential. Recent developments include: October 2023: The Instant Group (a leading global platform for flexible workspaces) secured a three-year managed office agreement with Arvato Systems Malaysia. The existing office space of Arvato Systems Malaysia in Kuala Lumpur, a pivotal development center for the Arvato Systems Group, is expected to undergo renovation and expansion. Expected to be finished in 2024, the total office space of Arvato Systems Malaysia will be 26,720 sq. ft, with 15,963 sq. ft undergoing refurbishment and an additional 10,757 sq. ft being custom-fit for the company's needs.January 2023: TAM Group, a GSSA (general sales and service agent) based in Hong Kong, expanded its presence in Southeast Asia by opening three new offices. Responding to the increased demand in the region, TAM Group partnered with Thailand’s GP Group and Vietnam’s TP Cargo Transport Services to establish offices in key strategic areas, including Bangkok, Ho Chi Minh City, and Hanoi.. Key drivers for this market are: 4., Increasing Demand for Co-Working Spaces. Potential restraints include: 4., Increasing Demand for Co-Working Spaces. Notable trends are: Demand for Co-Working Spaces is Driving the Market.

Hong Kong Self-Storage Market size was valued at USD 813.58 Million in 2024 and is projected to reach USD 1326.37 Million by 2032, growing at a CAGR of 6.3% during the forecast period 2026-2032.

Hong Kong Self-Storage Market Drivers

1. Rising property prices and a shortage of residential space The typical apartment size in Hong Kong is between 400 and 500 square feet, making it one of the smallest cities in the world. Residents are compelled by high real estate costs to make the most of their living space, which raises the demand for self-storage facilities for furniture, personal possessions, and seasonal goods.
2. Development of SMEs and E-Commerce Additional space is needed for inventory storage due to the growing e-commerce industry and the rise in small and medium-sized businesses (SMEs). Self-storage facilities are a more affordable option for startups and internet shops than renting commercial warehouses.
3. Trends in Decluttering and Shifting Consumer Lifestyles The need for exterior storage solutions has grown as a result of the minimalist lifestyle trend and growing knowledge of the advantages of decluttering. Sports equipment, decorations, and seasonal apparel are frequently kept in self-storage by locals.

The Asia-Pacific shared office space market is experiencing robust growth, driven by the increasing adoption of flexible work models, the rise of startups and SMEs, and a burgeoning demand for collaborative workspaces. The market's Compound Annual Growth Rate (CAGR) exceeding 6% signifies a consistently expanding market opportunity. Key drivers include the escalating cost of traditional office leases, the need for agile work environments, and the preference for cost-effective and fully-equipped spaces among diverse businesses, from IT and ITES companies to legal firms, BFSI institutions, and consulting groups. The market segmentation reveals a strong presence across various user types, including personal users, small and large-scale companies. Geographically, China, India, Japan, and South Korea are major contributors to the market's expansion, reflecting the economic dynamism and growing urbanization in these regions. While data for specific regional market share is unavailable, considering the CAGR and identified market drivers, it's reasonable to assume that China and India hold the largest shares, followed by Japan and South Korea. Growth is also fueled by a wide range of established players and new entrants, resulting in a competitive landscape with offerings varying in terms of pricing, amenities, and target customer segments. The market is expected to continue its trajectory of growth throughout the forecast period (2025-2033). The competitive landscape features both global giants like IWG and WeWork, and regional players catering to specific market needs. The continuous expansion into secondary and tertiary cities within the Asia-Pacific region is further enhancing market penetration. While potential restraints like economic downturns or shifts in work preferences could impact growth, the overall positive outlook suggests a promising future for the shared office space market. The increasing focus on sustainability and technology integration within these spaces is further driving innovation and attracting new clientele. The continued expansion of the technology sector and the growing preference for flexible work arrangements contribute to the positive forecast for the market's continued expansion in the coming years. A deeper dive into regional specific data would provide more granular insights into the growth potential within each area. Recent developments include: January 2023: Colony Coworking Space has invested in one of the biggest coworking operators in Malaysia, 5X Capital. Colony Coworking Space has a total space of 170,000 square feet in Kuala Lumpur and now runs 12 sites there under both its eponymous brand and its mass-market brand Jerry. Revenue for the group increased by 74% in 2022, while EBITDA reached an all-time high by growing by 265% annually. By funding 5X Capital, it hopes to take advantage of Malaysia's expanding flexible workspace market., November 2022: FlexiGroup asserts that by merging 3 flexi office operators, it has become the largest operator of coworking spaces in the Asia Pacific (APAC) area. The FlexiGroup now has 45 coworking spaces spread throughout 12 cities and nine countries in the region-Singapore, Hong Kong, Malaysia, Australia, Thailand, Taiwan, Vietnam, Japan, and the Philippines-after combining The Hive, The Cluster, and Common Ground.. Notable trends are: Demand for Co-working Spaces from Start-ups is supporting the significant Market Growth.

San Francisco's office rental market showcases significant variation across its submarkets, with Mission Bay commanding the highest rates at *** U.S. dollars per square foot in the third quarter of 2024. This premium location demanded nearly double the city's average rate, highlighting the stark differences in desirability and demand within the city's commercial real estate landscape. Economic powerhouse The San Francisco Bay Area's economic prowess is evident in its impressive economic growth over the past 20 years. The city's strength is fueled by the presence of major technology companies and a thriving startup ecosystem. The region's economic significance extends beyond local boundaries, contributing substantially to California's position as the state with the highest GDP in the country. This economic vitality helps explain the sustained demand for office space across various San Francisco submarkets. Offices: global context and market trends In a global context, San Francisco's office rental rates are relatively high but not the most expensive worldwide. In 2024, London, Hong Kong, and New York emerged as the top three most expensive office rental markets globally. Over the past five years, San Francisco has experienced a decline in office rents. This trend aligns with broader shifts in the office real estate sector, influenced by the COVID-19 pandemic and the rise of hybrid work. Despite these challenges, certain San Francisco submarkets like Mission Bay and The Presidio continue to command premium rates, reflecting their enduring appeal to commercial tenants.

The most expensive home put on the market globally (outside of the U.S.) in 2020 was ** Middle Gap Road in The Peak, Hong Kong, which was listed for *** million U.S. dollars. This four-bedroom property sits on ****** square feet.