Causeway Bay looks increasingly more appealing as an office address, amid the rental crash in what was until recently the world’s most expensive retail shopping district.
The monthly net office rent in the district between Hong Kong’s Wan Chai and Quarry Bay averaged HK$60.4 (US$7.74) per square foot, just about half the HK$113.6 per square foot in the city’s Central financial hub, according to Knight Frank. Central’s October rent rose 0.5 per cent from a month earlier, while Causeway Bay was unchanged.
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