Hong Kong and Singapore commercial property rents and prices will drop by more than 15 percent in 2012 as financial services companies keep a lid on growth or shrink, according to Jones Lang LaSalle Inc. (JLL)
Hong Kong rents will drop by 15 percent this year and prices by 16 percent, while Singapore rents will fall 11 percent and values 20 percent, Alastair Hughes, Asia-Pacific chief executive officer of the world’s second-biggest publicly traded commercial-property broker, said at a presentation in Sydney. Full story
