Hong Kong Offices Face Record Vacancies, Rents Plummet 40%

Hong Kong’s office market is undergoing a significant transformation. The city’s once-bustling financial district now faces unprecedented challenges. Vacancy rates have soared to levels not seen since the 1990s. This shift reflects broader economic changes and evolving work practices. By the end of Q1 2024, the overall vacancy rate for Grade A offices reached 13.1%. […]