Hong Kong’s office slump squeezes real estate funds

Shrinking market: Tourists walk in front of the central financial district in Hong Kong. Rents have been falling and space emptying in the city after the pandemic. — Reuters

Hong Kong: Real estate funds are getting caught in Hong Kong’s worst commercial property slump after making ill-timed investments when the market peaked just a few years ago.

Funds are increasingly trying to sell once-prized office towers at significant discounts as they rush to exit to avoid mounting interest payments on loans.