With Hong Kong poised to see in the new year with the completion of its seventh month of pro-democracy protests, the city’s prime commercial district now has more empty office space than at any time in the past four years.
Office Rents in HK’s Central Take Biggest Drop Since Financial Crisis
As teargas on Des Voeux Road makes Hong Kong’s pricey office space less attractive to tenants and tighter liquidity on the mainland restrains corporate spending, rents in the Asian financial hub have taken their biggest monthly drop in ten years,… Read More>>
Office in Hong Kong’s Bank of America Tower Leased at 30% Discount as Rents Slide
As the Hong Kong office market continues to struggle through street protests and disappearing mainland corporates, an office has been leased in one of Hong Kong’s prime commercial districts at a 30 percent discount from prevailing current market prices, according… Read More>>
Office Vacancy in Hong Kong’s Central District Rises to 3-Year High
Vacancy in Hong Kong’s normally red-hot Central office market, which boasts the most expensive commercial property in the world, rose to a three-year high in July amid increasing economic uncertainty, according to JLL’s latest Property Market Monitor report.
The property… Read More>>
CapitaLand Selling German Office to REIT for €133M and More Asia Real Estate Headlines
A German office building leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a major Singapore developer is selling an asset in a city famous for sausages to its primary commercial REIT for… Read More>>
Fosun Said Making £750M Bid for UK’s Thomas Cook and More Asia Real Estate Headlines
Shares in Fosun’s money losing tourism unit have been on the slide since their Hong Kong IPO in December, and now mainland investment guru Guo Guangchang leads Mingtiandi’s roundup of real estate headlines with the news that he is set… Read More>>
Japan’s Takashimaya Pulls Out of China and More Asia Real Estate Headlines
Retail leads the way in Mingtiandi’s roundup of Asia real estate headlines today with the news that a loss-making Japanese retailer is closing its department store in Shanghai and pulling out of China.
In other news around the region, co-working… Read More>>
NYC Hedge Fund Takes HK$170 Per Square Foot Lease in Central’s IFC
Hundreds of thousands of people may be marching in Hong Kong’s streets and the famously expensive housing market has started looking shaky, but international financiers are still leasing pricey offices in Central, so at least its business as usual in… Read More>>
Hong Kong Office Rents Grew Just 0.3% in November on Declining Market
The grade A office rental market in Hong Kong showed signs of further softening in November, with several major real estate services firms in agreement that leasing demand would continue to dissipate on the back of a declining economy, rising… Read More>>
HK Office Rents to Rise 5% or Less in 2019 as Tenants Cool Expansion Plans
Hong Kong office rents are expected to increase by no more than five percent in 2019, despite record-low vacancies in prime commercial districts, as occupier demand slows after years of competition for space in the regional finance hub, according to… Read More>>
