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MSCI's IPD Japan Monthly Property Index measures unlevered total returns of directly held standing property investments from one valuation to the next. The index tracks performance of 3,627 property investments, with a total capital value of JPY 16,557.9 billion as at May 2016. The market coverage is estimated to be of the professionally managed real estate investment universe with results dating back to 2002.

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Total retail sales in Hong Kong have registered a y-o-y decline in almost every month since late2014, with sales of big-ticket items such as watch and jewellery recording a double-digit fall for 22 out of the past 30 months.

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