# Singapore-based investors now the top non-local buyers of Hong Kong office assets

- **Source:** EdgeProp Singapore
- **Published:** 2026-08-03T03:19:14.000Z
- **Author:** Cheryl Arcibal
- **Original:** https://www.edgeprop.sg/property-news/singapore-based-investors-now-top-non-local-buyers-hong-kong-office-assets
- **Topics:** Commercial & Industrial, Investment & Capital Markets, Regional Markets

## Featured rationale

Office price declines of up to 50% are drawing long-term capital, potentially sustaining demand for discounted prime, income-producing and strategically located Hong Kong assets.

## AI summary

Singapore-based buyers invested HK$3.37 billion in Hong Kong commercial property during 2Q2026, representing 62% of HK$5.46 billion in non-local and mainland investment.

## Original article

Singapore-based investors have become the largest group of non-local buyers of commercial properties in Hong Kong, drawn by the sizeable correction in the prices of distressed assets amid a slump in the city’s office segment, according to Colliers.

The demand from Singapore was likely to remain steady in the coming months, given that the prices of office assets have declined by as much as 50%, according to Thomas Chak, head of capital markets and investment services at the property consultancy.

“Singaporean investors are drawn to Hong Kong more prominently in the second quarter because pricing has become significantly more attractive after several years of correction,” Chak says. “Many see this as an opportunity to acquire quality assets at a discount while positioning for a longer-term market recovery.”

Read also: Offices get pricier to rent and buy in 2Q2026, pipeline supply dwindles

In the April to June period, non-local and mainland Chinese investment in commercial properties in Hong Kong amounted to HK$5.46 billion ($890 million), of which Singapore-based buyers contributed HK$3.37 billion or 62% of the total, data from Colliers shows. Mainland investors, on the other hand, invested HK$1.23 billion during the same period.

In the preceding quarter, mainland Chinese investors were the largest non-local group that acquired commercial assets in the city, accounting for HK$4.73 billion of the total HK$6.03 billion, according to Colliers. Singapore investors, meanwhile, were absent from the market.

Among the Hong Kong assets that Singapore firms and investors bought in the second quarter were the 152,000 sq ft of space across several floors at The Center, a skyscraper in the city’s main business district, for about HK$2.62 billion by DBS Bank (Hong Kong), as well as the en bloc acquisition by Wee Hur Holdings of One Bedford Place, an office building with 184,041 sq ft in Tai Kok Tsui, for HK$748.8 million, according to data compiled by Colliers.

Hong Kong’s office property leasing segment is seeing a gradual recovery led by prime assets in Central. Grade A office rents in the district rose 7.3% in the first half, the biggest six-month increase in 15 years, while the district’s vacancy rate fell to 8.8% from 10.9% at the end of last year, according to JLL.

Landmark towers including One and Two IFC posted rent increases of more than 20%.

In the coming months, Chak said investors were likely to seek “stable income-generating assets, particularly in the education and living sectors, and owner-occupiers purchase strategically located commercial properties for self-use and future expansion.”

## Chinese translation

> Translation model: grok_cli

### 新加坡投资者现为香港写字楼资产最大非本地买家群体

香港写字楼价格累计回落幅度高达50%，为长期投资者创造新机遇。

高力国际（Colliers）称，新加坡投资者已成为香港商业物业最大的非本地买家群体，受惠于该市写字楼市场低迷下，困境资产价格出现大幅回调。

该物业咨询公司资本市场及投资服务主管Thomas Chak表示，鉴于写字楼资产价格最多已下跌约50%，来自新加坡的需求在未来数月料将保持平稳。

Chak表示：“新加坡投资者在第二季度更明显地被香港吸引，因为经过数年调整后，定价已显著更具吸引力。许多人视此为以折扣价购入优质资产、并为更长期的市场复苏布局的机会。”

延伸阅读：2026年第二季写字楼租售价格走高，供应管道收窄

高力国际数据显示，4月至6月期间，非本地及中国内地投资者在香港商业物业上的投资额达54.6亿港元（约8.9亿新元），其中新加坡买家贡献33.7亿港元，占总额的62%。同期，内地投资者则投入12.3亿港元。

前一季度，中国内地投资者是收购最大的非本地商业资产买家群体，在总计60.3亿港元中占47.3亿港元；而新加坡投资者当时并未入场。

据高力国际整理的数据，新加坡企业及投资者在第二季度购入的香港资产包括：星展银行（香港）以约26.2亿港元购入中环主要商务区摩天大楼The Center（中环中心）多楼层共约15.2万平方英尺的空间，以及维赫控股（Wee Hur Holdings）以7.488亿港元集体收购大角咀写字楼One Bedford Place，该楼建筑面积18万4,041平方英尺。

香港写字楼租赁市场正逐步复苏，由中环优质资产领涨。仲量联行（JLL）数据显示，该区甲级写字楼租金在上半年上升7.3%，为15年来最大的半年涨幅，空置率则从去年底的10.9%降至8.8%。

包括国金一、二期（One and Two IFC）在内的地标塔楼租金涨幅超过20%。

Chak表示，未来数月投资者料将寻求“能产生稳定收益的资产，尤其是教育与居住相关板块，而自用买家则会策略性购入区位优越的商业物业，以供自用及未来扩展。”