-
Chinese tenants continue their march into Hong Kong’s premium office space, driving up rents
Chinese companies continued their march into Hong Kong’s commercial space in the first three quarters, pushing the cost of renting offices in the city to the world’s highest in square footage terms, according to property consultant JLL. Tenants with home bases in mainland China took up 48 per cent of new space offered in Hong Kong, according to JLL’s Premium Office Rent Tracker data, which surveys the highest achievable price in offices exceeding 10,000 square feet of space in 54 major markets in 46 major cities. “Hong Kong’s high premium office rents are driven by ongoing supply shortages and high demand ... (full story)