Even though the border restrictions are not vailed anymore, many companies have downsized their branches in HK since the COVID outbreak. The vacancy rate significantly dropped between 2020 & 2021. Recently, the head of the agency at JLL Alex Barnes status that many companies continued searching the office space after the social distancing measures were relaxed. He believed that the vacancy rate will remain for a short period.
According to a report from Knight Frank, the commercial office on HK Island’s vacancy rate reaches its highest since 2003. The report shows that the vacancy rate is slightly increasing to 9.2%, achieving the new height point. The report also reflected that most of the vacant office is not in the traditional core district such as Island East, Wong Chuk Hang etc.… We evaluate that the much cheaper rental fee in those districts is the main incentive to attract company move in there. The downsized company should consider another office which fits its rental budget.
Recently, Hong Kong’s economic reputation is challenged by Singapore due to our border restrictions, foreign companies are planning to relocate their office to Singapore because they adopt policies which welcome overseas entrepreneurs. Overall the vacancy rate will be continually influence. Along with the Hybrid Work Model becoming common in society, traditional office demand is no longer as high as before the pandemic. Some companies may choose the serviced office or coworking space instead.
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自 COVID 爆發以來，許多公司縮減了在香港分支的規模。傳統辦公室的空置率在 2020 年至 2021 年間顯著下降。最近，JLL 機構負責人Alex Barnes表示，在社交距離措施放寬後，許多公司開始尋找辦公空間。他相信空置率會在短期內維持。
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