Property News · February 9, 2020

Hong Kong’s property agencies seek rent relief as ‘no one dares to come out’ to sales offices amid coronavirus outbreak


Hong Kong’s largest property agencies with almost 900 sales offices in the city are asking for discounts on new leases as they brace for further slide in sales after the industry’s worst year since 2016.Centaline Property Agency is prepared to shut some of its 423 branches if it cannot extract 20 per cent or more rent relief, a top executive said. Qfang would negotiate for lower rents when leases on some of its 20 branches come up for renewal, Chief Executive Vincent Chan said.The demands show…

Source : South China Morning Post
Read more…Hong Kong’s property agencies seek rent relief as ‘no one dares to come out’ to sales offices amid coronavirus outbreak

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