Hong Kong, mainland China weigh on Asia-Pacific office rents amid high vacancy: report

Q: How long will it take to read this news story?

The story "Hong Kong, mainland China weigh on Asia-Pacific office rents amid high vacancy: report" has 658 words across 20 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Hong Kong, mainland China weigh on Asia-Pacific office rents amid high vacancy: report" was covered 3 hours ago by SCMP, a news publisher based in Hong Kong.

Q: How trustworthy is 'SCMP' news outlet?

SCMP is a fully independent (privately-owned) news outlet established in 1903 that covers mostly business news. The outlet is headquartered in Hong Kong and publishes an average of 19 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21669199</li><li>URL: https://beamstart.com/news/hong-kong-mainland-china-weigh-17212706433466</li></ul>

SCMP Logo SCMP 3h ago

Hong Kong, mainland China weigh on Asia-Pacific office rents amid high vacancy: report - SCMP

Quick Summary:

Beijing, Shanghai, Hong Kong and Guangzhou had the sharpest declines among 23 cities in the second quarter, consultancy Knight Frank says.

However, Beijing, Shanghai, Hong Kong and Guangzhou were the worst performers, registering rental declines of between 8.8 per cent and 11.1 per cent, the property consultancy’s data shows.

This set a record for the second straight quarter, surpassing the previous peak by 400,000 sq ft.“The majority of tenants prioritised cost savings and optimisation in view of a more conservative sentiment towards business outlook, thereby limiting the market demand,” said Fiona Ngan, head of occupier services at Colliers Hong Kong.