Q2 2020 Hong Kong Market Report
Hong Kong Grade A Office Overview – Q2, 2020
The Grade A office market saw rents decrease for the fourth consecutive quarter with HK entering into a technical recession; a result of the continued deteriorating business and economic conditions connected with COVID-19. Coupled with a continued ban on visitor arrivals, increased social distance measures and work-from-home arrangements, general market sentiment was lethargic. Overall, businesses looked to reduce costs, consolidate existing operations, surrender space or negotiate more favourable terms.
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