HK's Massive Office Property Glut



ORIGINAL POST
Posted by Ed 2 mths ago
https://hongkong.asiaxpat.com/Utility/GetImage.ashx?ImageID=6a4747be-5553-4eb7-9e5a-a73045b7c74a&refreshStamp=0
 
Hong Kong landlords may take 7 to 15 years to end office glut, market experts say
 
The city has 15 million square feet of excess office space, more than all the current space in the main business district
 
“By the end of this decade, the vacancy pressure is likely going to be very similar to what we are seeing in the market today,” said Marcos Chan, executive director and head of research at CBRE Hong Kong. “That is on an assumption that the market demand will be quite similar to what we used to have, before the market experienced a downturn a couple of years ago.” 
 
https://archive.md/XohPh 

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COMMENTS
agreyofficereinstatement 16 days ago

That’s a long time to clear the extra space! With 15 million sq ft sitting empty, it shows how much the office market has changed. Many companies are downsizing or going remote, so demand isn’t what it used to be. Landlords might need to get creative—like offering flexible leases or turning offices into other uses. For now, it’s a tenant’s market for sure.



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https://www.officereinstatement.com.hk/blog/office-reinstatement-process-in-hong-kong


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