{"id":116243,"date":"2020-05-12T06:00:19","date_gmt":"2020-05-11T23:00:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/landlords-in-central-hong-kong-slash-rents-by-more-than-a-third-as-vacancy-climbs-to-six-year-high-amid-economy-crushed-by-coronavirus\/"},"modified":"2020-05-12T06:17:40","modified_gmt":"2020-05-11T23:17:40","slug":"landlords-in-central-hong-kong-slash-rents-by-more-than-a-third-as-vacancy-climbs-to-six-year-high-amid-economy-crushed-by-coronavirus","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landlords-in-central-hong-kong-slash-rents-by-more-than-a-third-as-vacancy-climbs-to-six-year-high-amid-economy-crushed-by-coronavirus\/","title":{"rendered":"Landlords in Central, Hong Kong slash rents by more than a third as vacancy climbs to six-year high amid economy crushed by coronavirus"},"content":{"rendered":"


\nHong Kong\u2019s major landlords of premium office space in Central are cutting rents by more than a third \u2013 returning them to 2017 levels \u2013 as the sharp economic contraction caused by the coronavirus forces corporate tenants either to downsize or move somewhere cheaper.The vacancy rate in Central, the world\u2019s costliest office market, climbed to a six-year high of 4.4 per cent in March, said JLL.Taking advantage of the lower rent, mainland Chinese private equity investor Hony Capital has leased 10\u2026
\n
\nSource : South China Morning Post
\nRead more…Landlords in Central, Hong Kong slash rents by more than a third as vacancy climbs to six-year high amid economy crushed by coronavirus<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong\u2019s major landlords of premium office space in Central are cutting rents by more...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-116243","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ueT","jetpack-related-posts":[{"id":118437,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landlords-of-hong-kongs-ginza-style-commercial-buildings-slash-rents-and-target-non-restaurant-tenants-amid-coronavirus-downturn\/","url_meta":{"origin":116243,"position":0},"title":"Landlords of Hong Kong\u2019s \u2018Ginza-style\u2019 commercial buildings slash rents and target non-restaurant tenants amid coronavirus downturn","date":"September 2, 2020","format":false,"excerpt":"\r Landlords of Hong Kong\u2019s \u201cGinza-style\u201d commercial buildings are slashing rents by up to 40 per cent and shifting their focus away from restaurants and bars to survive the dramatic downturn in the catering and retail sectors caused by the coronavirus pandemic.As rents of street-level shops and restaurants have tumbled,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115370,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-retail-rents-might-need-to-be-halved-for-tenants-landlords-to-survive-coronavirus-outbreak-developer-says\/","url_meta":{"origin":116243,"position":1},"title":"Hong Kong retail rents might need to be halved for tenants, landlords to survive coronavirus outbreak, developer says","date":"April 3, 2020","format":false,"excerpt":"\r Hong Kong\u2019s retail landlords might have to cut rents by 50 per cent to attract new tenants amid a worsening outbreak of the novel coronavirus, one of the city\u2019s richest developers said.\u201cFor these few months, you\u2019ll probably see a 50 per cent cut in rents for the retail sector,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157496,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-cant-hong-kong-retail-landlords-cut-rents-for-struggling-tenants\/","url_meta":{"origin":116243,"position":2},"title":"Why can\u2019t Hong Kong retail landlords cut rents for struggling tenants?","date":"July 13, 2025","format":false,"excerpt":"\r In a commercial rental market beset by high vacancy rates, many Hong Kong landlords feel stuck between a rock and a hard place: giving tenants a break on rent makes it harder to pay mortgages and threatens asset value, but holding the line on rent runs the risk of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117050,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-office-market-is-hollowing-out-as-vacancy-rate-hits-10-year-high-who-can-save-the-landlords\/","url_meta":{"origin":116243,"position":3},"title":"Hong Kong\u2019s office market is hollowing out as vacancy rate hits 10-year high. Who can save the landlords?","date":"June 11, 2020","format":false,"excerpt":"\r Hong Kong\u2019s office landlords are facing the biggest crunch in a decade as rents slide and vacancy rates in the city\u2019s 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115556,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/robots-and-new-technologies-become-mainstays-in-hong-kong-malls-offices-as-landlords-adapt-to-pandemic\/","url_meta":{"origin":116243,"position":4},"title":"Robots and new technologies become mainstays in Hong Kong malls, offices as landlords adapt to pandemic","date":"April 12, 2020","format":false,"excerpt":"\r Landlords in Hong Kong and mainland China are embracing new technologies with greater urgency as many are struggling with dwindling retail footfall and rents amid the coronavirus pandemic.Social distancing rules and work-from-home regime have renewed pressure on businesses, after social unrest and the viral outbreak sent the retail sector\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":139202,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-office-landlords-grapple-with-irreversible-hybrid-work-trend-amid-high-vacancy-rates-supply-glut\/","url_meta":{"origin":116243,"position":5},"title":"Hong Kong office landlords grapple with \u2018irreversible\u2019 hybrid work trend amid high vacancy rates, supply glut","date":"September 17, 2023","format":false,"excerpt":"\r Flex space provider IWG says it is adding locations rapidly in the Greater Bay Area as property owners seek to capitalise on the trend. Major landlords Hongkong Land and Swire Properties also have their fingers in the co-working pie.\r \r Source : South China Morning Post\r Read more...Hong Kong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116243"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=116243"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/116243\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=116243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=116243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=116243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}