People take a selfie on Hong Kong’s Central harbourfront in August 2019. One property adviser has predicted that Grade A office rents will drop between 15 and 20 per cent in 2020. Photo: Nora Tam People take a selfie on Hong Kong’s Central harbourfront in August 2019. One property adviser has predicted that Grade A office rents will drop between 15 and 20 per cent in 2020. Photo: Nora Tam
People take a selfie on Hong Kong’s Central harbourfront in August 2019. One property adviser has predicted that Grade A office rents will drop between 15 and 20 per cent in 2020. Photo: Nora Tam
Nicholas Spiro
Opinion

Opinion

The View by Nicholas Spiro

As Hong Kong’s office rental market faces challenging times, decentralisation is the trend to watch

  • Net take-up of Grade A office space in Hong Kong plummeted 62 per cent last year
  • The gap between the most expensive and cheapest submarkets means the incentive remains for occupiers to relocate to secondary business districts

People take a selfie on Hong Kong’s Central harbourfront in August 2019. One property adviser has predicted that Grade A office rents will drop between 15 and 20 per cent in 2020. Photo: Nora Tam People take a selfie on Hong Kong’s Central harbourfront in August 2019. One property adviser has predicted that Grade A office rents will drop between 15 and 20 per cent in 2020. Photo: Nora Tam
People take a selfie on Hong Kong’s Central harbourfront in August 2019. One property adviser has predicted that Grade A office rents will drop between 15 and 20 per cent in 2020. Photo: Nora Tam
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.