{"id":117050,"date":"2020-06-11T07:30:17","date_gmt":"2020-06-11T00:30:17","guid":{"rendered":"http:\/\/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\/"},"modified":"2020-06-11T09:03:00","modified_gmt":"2020-06-11T02:03:00","slug":"hong-kongs-office-market-is-hollowing-out-as-vacancy-rate-hits-10-year-high-who-can-save-the-landlords","status":"publish","type":"post","link":"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\/","title":{"rendered":"Hong Kong\u2019s office market is hollowing out as vacancy rate hits 10-year high. Who can save the landlords?"},"content":{"rendered":"


\nHong 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 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\u2026
\n
\nSource : South China Morning Post
\nRead more…Hong Kong\u2019s office market is hollowing out as vacancy rate hits 10-year high. Who can save the landlords?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Hong Kong\u2019s office landlords are facing the biggest crunch in a decade as rents slide...<\/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-117050","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-urU","jetpack-related-posts":[{"id":118532,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-hong-kongs-retail-landlords-weather-soaring-vacancy-rates-by-running-their-own-shops-in-their-own-buildings\/","url_meta":{"origin":117050,"position":0},"title":"Can Hong Kong\u2019s retail landlords weather soaring vacancy rates by running their own shops in their own buildings?","date":"September 8, 2020","format":false,"excerpt":"\r The collapse of retail rents and high vacancy rates in some of Hong Kong\u2019s main shopping districts is forcing some landlords to get creative. Rather than leave their buildings standing idle, some are launching brand new, totally unrelated business ventures to fill the vacant space.Two joint owners of a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119021,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shenzhens-office-landlords-offer-leisure-areas-huge-pantries-as-they-compete-to-woo-tech-firms-amid-record-vacancy-levels\/","url_meta":{"origin":117050,"position":1},"title":"Shenzhen\u2019s office landlords offer leisure areas, huge pantries as they compete to woo tech firms amid record vacancy levels","date":"October 27, 2020","format":false,"excerpt":"\r Landlords of premium office space in Shenzhen are having to go beyond cutting rents to lure tenants, providing customised facilities flexible arrangements to attract the fast-expanding tech firms as vacancy reached a record in the special economic zone.There was close to 2.4 million square metres of empty space \u2013\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116243,"url":"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\/","url_meta":{"origin":117050,"position":2},"title":"Landlords in Central, Hong Kong slash rents by more than a third as vacancy climbs to six-year high amid economy crushed by coronavirus","date":"May 12, 2020","format":false,"excerpt":"\r Hong 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":127581,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-premium-office-vacancy-rate-hits-19-year-high-of-12-per-cent-as-more-companies-adopt-work-from-home-policies-to-counter-downturn\/","url_meta":{"origin":117050,"position":3},"title":"Hong Kong\u2019s premium office vacancy rate hits 19-year high of 12 per cent as more companies adopt work-from-home policies to counter downturn","date":"July 6, 2022","format":false,"excerpt":"\r The vacancy rate in Hong Kong\u2019s premium office market climbed to 12 per cent in June, the highest since the third quarter of 2003, as a rising number of companies adopt flexible work arrangements and cost saving measures to cope with the economic downturn.\r \r Source : South China\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123112,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-hong-kong-office-landlords-must-do-to-retain-and-attract-tenants-amid-improving-outlook\/","url_meta":{"origin":117050,"position":4},"title":"What Hong Kong office landlords must do to retain and attract tenants amid improving outlook","date":"November 9, 2021","format":false,"excerpt":"\r Hong Kong\u2019s office sector recorded overall net absorption for the first time after eight consecutive quarters \u2013 a key indicator of the health of the market.Despite the lion\u2019s share coming from Kowloon, there was a return in demand from occupiers in Central, where the vacancy rate dropped to 7.2\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138725,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-retail-sector-revive-top-landlords-see-positive-signs-from-shop-tenants-while-office-market-lags\/","url_meta":{"origin":117050,"position":5},"title":"Hong Kong\u2019s retail sector revive: top landlords see positive signs from shop tenants, while office market lags","date":"August 10, 2023","format":false,"excerpt":"\r Swire Properties says retail sales at some shopping centres are back at pre-pandemic levels, while Hysan Development reports rising tenant revenue. However, the office market lags as high vacancy rates persist.\r \r Source : South China Morning Post\r Read more...Hong Kong\u2019s retail sector revive: top landlords see positive signs\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\/117050"}],"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=117050"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117050\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=117050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=117050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=117050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}