Property News · June 11, 2020

Hong Kong’s office market is hollowing out as vacancy rate hits 10-year high. Who can save the landlords?


Hong Kong’s office landlords are facing the biggest crunch in a decade as rents slide and vacancy rates in the city’s notoriously pricey market reached the highest level in a decade.About 1.1 million square feet (102,193 square metres) of space in Central business district would have been vacated by businesses by the end of last month, CBRE estimates. Imagine a totally empty HSBC headquarters, or two blocks of One IFC Tower. At 8.5 per cent, the vacancy rate is the highest since December 2009…

Source : South China Morning Post
Read more…Hong Kong’s office market is hollowing out as vacancy rate hits 10-year high. Who can save the landlords?