Other factors influencing Hong Kong’s commercial property market It need not be said that there will always be other major social, political and economic forces at play, both domestically and internationally, that will shape the state of the commercial property market in Hong Kong. Just one example of many, simmering away at the macro level, is the ongoing uncertainties arising from global trade wars (US and China, Brexit negotiations etc) which could lead to a pronounced slowdown in the rental and capital value growth of real estate.