Hong Kong

Impacted by the continued social unrest locally as well as strained US-China trade relations, Q4 saw the overall vacancy rate in the Hong Kong Grade A office sector further increase. These higher vacancy rates combined with a slow down in demand have had an impact on overall Grade A rentals which presented a decline across all sub-markets. Leasing demand in this quarter predominantly came from Government institutions, insurance companies, new technology and biotech companies.

Does COVID-19 excuse parties from performing under a contract? What happens if such parties cannot perform? In many contracts, including real estate leases, a “force majeure” clause can provide the answers.

Q3 2019 Hong Kong Market Report