News Sharing
For sharing news, please enter the email address of you and the receiver, then press SEND button.*Mandatory Fields
Receiver*
Enter email addresses, separated by semicolon (;). E.g. a@a.com;b@b.com
Your email address*
 Content Sharing
Ex-HK Leader Urges Landlords to Cut Rents as HK Retail Property Mkt Undergoing Structural Changes
Hong Kong's former Chief Executive CY Leung wrote on social media that the shop vacancy rate already reached 11.8% at the end of last year, a record high in forty years as indi...
Reset
Send
The window will close in 5 seconds
Ex-HK Leader Urges Landlords to Cut Rents as HK Retail Property Mkt Undergoing Structural Changes
Close
Recommend
22
Positive
32
Negative
21
 
SHORT SELL
 
STOCK INFO

Hong Kong's former Chief Executive CY Leung wrote on social media that the shop vacancy rate already reached 11.8% at the end of last year, a record high in forty years as indicated by a report issued by the Rating and Valuation Department in March. In contrast, the private residential vacancy rate stood at only 4.5% at the end of last year.

Leung stressed that Hong Kong's retail property market has undergone structural changes due to well-known reasons, and hence society must make structural adjustments correspondingly; otherwise, the pressure building up in the market will never ease.

Related NewsUOB Kay Hian: Top Pick Among Landlords WHARF REIC (01997.HK) w/ TP Elevated to $26.5
He suggested that landlords should follow the market and cut rents decisively. By renting out the shops first, they could revitalize the market. When tenants' businesses thrive, there will be opportunities for them to raise rents in the future, a win-win approach where landlords and tenants can work together for mutual benefit.

AAStocks Financial News
Copyright(C) AASTOCKS.com Limited 2000. All rights reserved.
Disclaimer: AASTOCKS.com Ltd, HKEx Information Services Limited, its holding companies and/or any subsidiaries of such holding companies endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.