Office vacancy rates in Central rose to a 15-year high of 7.6 per cent in the first quarter, according to Savills. Photo: EPA Office vacancy rates in Central rose to a 15-year high of 7.6 per cent in the first quarter, according to Savills. Photo: EPA
Office vacancy rates in Central rose to a 15-year high of 7.6 per cent in the first quarter, according to Savills. Photo: EPA

Hong Kong’s ageing office towers likely to lose rental value of US$1.3 billion without upgrades amid changing market dynamics

  • More than half of the city’s grade A and B buildings are considered ageing as they were built more than 20 years ago, with rents 10 to 40 per cent lower than well-maintained and newer buildings
  • Upgrades to improve air quality, natural light and access to outdoor space, proptech solutions to support de-densification and social distancing must be priority in office buildings, JLL says

Topic |   Hong Kong property
Office vacancy rates in Central rose to a 15-year high of 7.6 per cent in the first quarter, according to Savills. Photo: EPA Office vacancy rates in Central rose to a 15-year high of 7.6 per cent in the first quarter, according to Savills. Photo: EPA
Office vacancy rates in Central rose to a 15-year high of 7.6 per cent in the first quarter, according to Savills. Photo: EPA
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