Prime Office Space Prices Plummet

This is a Hong Kong's news story, published by Yahoo Finance, that relates primarily to Wan Chai/Causeway Bay news.

Hong Kong's news

For more Hong Kong's news, you can click here:

more Hong Kong's news

Wan Chai/Causeway Bay news

For more Wan Chai/Causeway Bay news, you can click here:

more Wan Chai/Causeway Bay news

real estate & housing news

For more real estate & housing news, you can click here:

more real estate & housing news

Yahoo Finance news

For more news from Yahoo Finance, you can click here:

more news from Yahoo Finance

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like real estate & housing news, you might also like this article about

office leasing market

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest Hong Kong office market news, office property market news, real estate & housing news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

office rental market

South China Morning Post

•

Leasing momentum, lower interest rates unlikely to rescue Hong Kong's distressed office landlords

Summary

Nutrition label

91% Informative

Prices of prime office space in Hong Kong's main business zones of Sheung Wan/Central , Wan Chai/Causeway Bay and Tsim Sha Tsui declined by more than 46 per cent as of November .

Overall rents across the city's premium office space segment are estimated to have fallen 8.6 per cent this year .

JLL forecasts office rents to drop by as much as 10 per cent in 2025 .

The office leasing market in 2025 will be mainly dominated by lease renewals.

Most firms intend to keep its current office-space portfolio for cost optimisation.

Mainland Chinese firms have been keeping up with the leasing momentum in relatively small to midscale office space.

But given the current structural imbalance in office space supply and demand and the upward vacancy rate, we forecast a downward adjustment of 9 per cent in rents in 2025 .

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful