Strong Property Market Fuels Hiring in Marketing
The property market continues to be active, with an expected growth trajectory. The strength of the residential and retail markets is providing opportunities for marketing professionals interested in pursuing careers within real estate and property management.
The lack of affordability in Hong Kong’s residential market is a long-standing issue. The unsustainability of rising house prices has led to the introduction of government cooling measures and the proposed introduction of over 20,000 new units per year, for the next four years. Whether government policies or the location of the new supply is responsible for the recent housing market price drop - over half of the new supply will be built within the New Territories – activity is expected to increase.
As a result, developers and property agents are shifting the marketing teams to launch the properties and promote the New Territories. Opportunities exist for marketing professionals at all levels, with a knowledge of the different areas of Hong Kong.
The retail market is also experiencing growth. Shopping malls are benefiting from the increase in footfall and spending power of consumers and have been able to bargain with tenants on rents. Street retailers are also performing well with an uplift in the performance of prime locations. The government’s investment in promoting Hong Kong tourism, infrastructure developments across the greater bay area and the new high-speed railway have supported the recovery of the luxury sector, which is experiencing a comeback as day tourism increases.
The retail sector is capitalising on this period of growth by investing in dedicated digital consumer teams to drive engagement through content development and social media. Marketing professionals with digital experience across Retail, FMCG and IT & T with knowledge of Chinese consumer behaviours and China social media campaigns are in high demand to lead, manage and control application development and multi-media campaigns. Candidates moving into this area can expect salary increases in line with general moves in addition to property sector bonus schemes.
Marketing professionals interested in opportunities in residential real estate or retail property management are welcome to contact me.