Why Hong Kong’s property market isn’t all doom and gloom

Quick Summary:

Hong Kong’s real estate sector has endured a series of shocks, yet it is far more resilient than dire reports of its state might suggest.

Falling office rents in Hong Kong have driven some firms to relocate in search of higher-quality buildings with more amenities.

In the commercial property sector, grade A office rents have fallen by more than 35 per cent since their peak in 2019, while the overall vacancy rate has shot up to an all-time high of 16.9 per cent, up from less than 5 per cent in 2019.

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Article Details

Author / Journalist: Nicholas Spiro

Category: Business

Markets: Hong KongChinaMacauTaiwanUnited States

Topics: Kong Leasing Real Rents Property Hong Cent Market Kong’s Office Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-29 @ 16:30:09 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 1010 words

Reading Time: 6 minutes read

Sentences: 41 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21820976

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About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 13 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 1 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #42

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