Hong Kong's Empty Office Spaces

Hong Kong's commercial real estate sector faces a significant downturn, with high vacancy rates and declining rental values. Landlords are offering higher commissions to agents to fill spaces, while the government has paused land sales to manage supply. Despite these efforts, the market is expected to remain challenging, with new developments adding to the supply-demand mismatch. The situation impacts government revenue and the city's status as a business hub.

What is the current vacancy rate in Hong Kong's commercial real estate sector?

• 30%

• 17%

• 10%

• 25%

What incentive are landlords offering to agents to fill vacant spaces?

• Extended lease terms

• Higher commissions

• Discounted rent

• Free parking

Which area in Hong Kong was once the world's most expensive shopping district?

• Central

• Tsim Sha Tsui

• Causeway Bay

• Mong Kok

How much new office space is expected to enter the market in the next five years?

• 5 million square feet

• 12 million square feet

• 8.5 million square feet

• 10 million square feet

What is the expected decline in rental values this year according to CBRE?

• 10-11%

• 8-9%

• 5-6%

• 2-3%