Office rents plummet as coronavirus drags Hong Kong’s commercial property transactions to an all-time low

//Office rents plummet as coronavirus drags Hong Kong’s commercial property transactions to an all-time low

Office rents plummet as coronavirus drags Hong Kong’s commercial property transactions to an all-time low

Hong Kong’s commercial property market, already reeling from last year’s protests, is about to slide further into the doldrums as the coronavirus epidemic saps demand, according to analysts.The volume of transactions for office, retail and industrial properties is poised for a historic low in February, having already sunk to record levels in the previous two months. Meanwhile, a grade-A office building near Central has seen its rent plummet by two thirds to HK$42 (US$5.4) per square foot, the…

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By | 2020-02-27T00:30:05+00:00 February 27th, 2020|Business|Comments Off on Office rents plummet as coronavirus drags Hong Kong’s commercial property transactions to an all-time low