UBS sees Hong Kong office market bottoming on wealth effect

John Lam, head of China and Hong Kong property research at UBS, points to a recovery in Hong Kong’s Central office market, driven by a 22% surge in hedge fund headcounts and a proposed tax exemption for fund managers. He also says the turnaround is being reinforced by a significant shift in regional capital, with Singapore-based investors now accounting for 62% of non-local commercial acquisitions.

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