Reported 8 months ago
The commercial real estate market in Hong Kong has been facing a downturn, with rental prices continuously decreasing. According to statistics from the real estate agency Centaline Property, the rental prices of Li Ka-shing's Cheung Kong Center have dropped by a total of 33% over the past five years, leading the decline in Hong Kong's commercial real estate market. Factors contributing to this decline include a weak economy, multinational companies withdrawing, and a significant increase in vacancy rates, allowing tenants more negotiation power over lease terms. It is projected that Hong Kong's rental prices may continue to decrease by over 5% this year.
Source: YAHOO