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Hong Kong Economy

Hong Kong’s Commercial Property Sector Faces Fresh Crisis Amid Falling Values and Rising Vacancies

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1Nojor Desk
  • 12 Jul 25
  • 02:23 PM

Hong Kong’s commercial property sector is under renewed stress as property values continue to drop and office and retail vacancies rise. JLL warns values may fall another 5–10% this year, with developers and banks increasingly strained. Office rents have fallen over 40% since 2019, and retail vacancies are at record highs. The crisis may spread to luxury residential properties as owners seek liquidity. Some developers have already defaulted on large debts, raising concerns over broader financial sector stability.

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Bonik Barta 12 Jul 25

Market Value Declining: Hong Kong's Commercial Property Sector Facing Deepening Crisis

Hong Kong, one of Asia's key financial hubs, is facing a fresh crisis in its commercial property sector. Both small- and mid-sized developers, as well as the banking sector, are coming under increasing pressure. Property consultancy firm JLL attributes the situation to declining market values and sluggish leasing activity in the commercial property market, according to a report by the South China Morning Post.

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