Hong Kong's Empty Office Spaces

Hong Kong's Empty Office Spaces

Assessment

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Business, Arts, Architecture

University

Hard

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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.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

30%

17%

10%

25%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Extended lease terms

Higher commissions

Discounted rent

Free parking

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Central

Tsim Sha Tsui

Causeway Bay

Mong Kok

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

10-11%

8-9%

5-6%

2-3%