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Jones Lang LaSalle Newsroom
JLL Announces Details of Second Quarter 2024 Earnings Release and Conference Call
Jones Lang LaSalle's Ceng Huanping: Suggests including residential properties in the scope of the new capital investment immigration plan to support the Hong Kong property market.
According to the Zeng Huanping, chairman of Jones Lang LaSalle Hong Kong, Hong Kong's property prices have fluctuated recently. He believes that a dedicated committee should be established as soon as possible to assess the risk level of the property market and develop measures to reduce risk, especially with high interest rates and banks generally tightening their residential mortgage approvals. Providing low-interest loans to first-time home buyers, introducing additional incentives for eligible talents to purchase properties, and including residential properties in the scope of the new capital investment entry plan to support Hong Kong's property market. He also pointed out that there is a large inventory of new properties on the market, including unsold and newly completed units, totaling 9.3 units, even if they are not as many as those that are pending approval and for sale.
Jones Lang LaSalle expects prices of small and medium-sized residences in Hong Kong to decline by 10% in the second half of the year.
On July 10th, Globelink released a review and outlook on the Hong Kong real estate market in the first half of the year. It pointed out that both commercial and residential property investment in Hong Kong are facing the dual impact of tightened mortgage approval by banks and high interest rates, and both commercial and residential prices will continue to decline in the next six months. Wenping Tsang, Chairman of Jones Lang LaSalle Hong Kong, said that prices of small and medium-sized homes are expected to fall by 10% in the second half of the year, while prices of luxury homes will fall by 5 to 10% due to increased new supply, and property prices will fall by more than 30% throughout the year. He believes that the current Hong Kong property market can be compared to the market in 1997, and if the property market really falls by 30% throughout the year.
Jones Lang LaSalle expects office rents to remain stable or fall by 5% in the second half of the year, while rents in core locations may increase by up to 5%.
Jones Lang LaSalle Commercial Department's Executive Director Yan Weicheng said that due to the lack of expansion demand and the increase in lease renewal cases, the office leasing market was weak in the first half of the year, with the total leasing volume decreasing by 28.1% compared to the second half of last year. However, the market still recorded a net absorption of 0.5023 million square feet during the same period, mainly due to the implementation of the pre-leased floors in newly completed commercial buildings. However, the newly added supply also pushed the overall Grade-A office vacancy rate to a historical high of 13.6% by the end of June. The overall Grade-A office rent fell 4.3% in the first half of the year, and the new supply competition also led to a 7.1% decline in Central's rent, which was the largest among all major districts.
Jones Lang LaSalle: The vacancy rate of Class A office buildings in Shanghai increased by 0.5 percentage points to 23.5% quarter-on-quarter in the second quarter.
In the second quarter, the vacancy rate of Grade A office buildings in Shanghai rose by 0.5 percentage points to 23.5% compared with the previous quarter.
JLL Arranges $430M Refinancing for Fairmont Austin
Express News | $430M in Refinancing Arranged for the Luxury Hotel, Fairmont Austin
Express News | Jones Lang LaSalle Inc : UBS Raises Target Price to $240 From $225
Jones Lang Lasalle Price Target Raised to $240.00/Share From $225.00 by UBS
Jones Lang Lasalle Price Target Raised to $240.00/Share From $225.00 by UBS
Jones Lang Lasalle Is Maintained at Buy by UBS
Jones Lang Lasalle Is Maintained at Buy by UBS
UBS Maintains Buy on Jones Lang LaSalle, Raises Price Target to $240
UBS analyst Alex Kramm maintains Jones Lang LaSalle (NYSE:JLL) with a Buy and raises the price target from $225 to $240.
Jones Lang LaSalle Analyst Ratings
Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 07/03/2024 17.95% UBS $225 → $240 Maintains Buy 06/21/2024 13.03% JP Morgan $215 → $230 Maintains Overweig
UBS Maintains Jones Lang LaSalle(JLL.US) With Buy Rating, Raises Target Price to $240
UBS analyst Alex Kramm maintains $Jones Lang LaSalle(JLL.US)$ with a buy rating, and adjusts the target price from $225 to $240.According to TipRanks data, the analyst has a success rate of 60.4% and
Jones Lang LaSalle: Hong Kong's second-hand residential prices have fallen back to 2016 levels, and the prices of new properties have dropped below 2015 levels.
Jones Lang Lasalle released the "Overview of Hong Kong Residential Sales Market", pointing out that according to the Rating and Valuation Department's Private Residential Price Index, the overall second-hand residential prices have fallen back to the level of 2016.
Jones Lang LaSalle Launches New Commercial Paper Program to Issue Up to $2.5 Billion in Notes
Jones Lang LaSalle (JLL) said Monday it has launched a new program that will allow it to issue up to $2.5 billion of short-term, unsecured, and unsubordinated commercial paper. The program will provid
JLL Establishes $2.5B Commercial Paper Program
Reported Earlier, Jones Lang LaSalle Unveils $2.5B Commercial Paper Initiative for Corporate Flexibility
Jones Lang LaSalle Incorporated (NYSE:JLL) ("JLL" or the "Company"), announced today the establishment of its inaugural commercial paper program. The program allows JLL (through one of its wholly-owne
Jones Lang LaSalle: new property prices have fallen below the 2015 level.
Jones Lang LaSalle pointed out that the Privacy Residential Property Price Index shows that the overall price of second-hand residences has fallen to the level of 2016. The recent decline in the opening price of new projects is even more significant, with a decrease of more than 10% compared to similar projects in 2015, which puts more downward pressure on the price of second-hand homes. The overall price index of second-hand residences has fallen to the level of 2016, with a recorded 305.9 points in May, similar to 306.7 in November 2016. The price of first-hand residences has fallen to an earlier level. As of May, the average first-hand transaction price per square foot of Class A residences (with a usable area of less than 431 square feet) in Yau Ma Tei was 1% lower than that in 2015.
Primary Launch Prices Fall Below 2015 Level
HONG KONG, 2 July 2024 – Rating and Valuation Department's private domestic price index showed that overall secondary home prices have already returned to their 2016 levels. However, with the prices o
Express News | Jll Establishes $2.5 Billion Commercial Paper Program