HSBC Research: Office rents are expected to decline by another 7% to 10% within the year
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HSBC Global Research report indicates that Hong Kong office rents fell by 0.2% quarter-on-quarter in the first quarter, with the Central market declining by 0.7%. It is expected that overall rents will drop by another 7% to 10% this year. Despite an increase in tenant inquiries and lease renewals, the occupancy rate has slightly decreased. Nearly 6 million square feet of office space will be supplied in the next two years, posing challenges for the market. Some major landlords have adjusted their strategies to reduce reliance on the office market, and the performance of SWIREPROPERTIES and Hongkong Land may attract investor attention
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