The office space market in Hong Kong is seen to experience an oversupply amid an easing of mortgage financing rules, the South China Morning Post reported, citing analysts.
Hong Kong's vacancy rates for office spaces rose even more in October across more business districts in the city such as Central, Wan Chai, Causeway Bay, and Tsim Sha Tsui, according to the Oct. 29 SCMP report.
More than 3 million square feet of office space will be added next year, enhancing the oversupply problem, the report said, citing CBRE.
Vacancies could also worsen by the end of 2025 with more office spaces by Sun Hung Kai Properties (HKG:0016) coming, and rates would fall by another 5%, the report said, citing CBRE.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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