Office rents in Hong Kong and Singapore are set to fall, brokers say, as their markets start to reflect the slowdown in trade and investment caused by the euro zone debt crisis. In a mid-quarter review released yesterday, Jones Lang LaSalle forecast Grade A rents in Hong Kong to fall 5 to 6 per cent in the fourth quarter to US$1,643 (S$2,107) per sq m per year and 4 per cent in Singapore to US$786 per sq...
Hong Kong Office
HONG Kong prime office rents may fall a further 26 per cent this year as the global financial crisis prompts banks and investment companies to control spending, according to a report by property agency Colliers International. "The prime office market is predicted to experience a further downward adjustment due to the consolidation of the financial markets and the global economic outlook," Colliers...