Hong Kong property rents, the most expensive in the world, will fall in the coming year amid a gloomy economic outlook. The decline will affect both commercial and residential sectors, though retail rents will buck the trend with strong growth next year.
Rents on Hong Kong’s prime office space, labelled as “grade-A”, will fall by 8% in 2012, while offices in so-called premium blocks such as Central and Admiralty will see their rental income tumbling 15% during the year, according to Colliers International, a real estate service provider.
The overall grade-A office rent in the city will fall 8% and its selling price will drop 16%, the...
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