It was motivated by the cancellation of double stamp duty on commercial properties.

Market outlook foreseen to stabilize by Q3 2021.

Chan previously served as executive director for capital markets at JLL.

Leasing demand remains subdued with -2.5 million square feet net absorption.

However, capital values are not likely rebounding strongly unless rent rates rose.

The company sees demand for flexible office spaces.

Overall office rentals dropped for the sixth consecutive quarter.

Companies with more than 500 staff are most likely to consider reducing space.

The adjustment takes effect from 20 August.

Despite a jump in approved loans, mortgage loans drawn down also rose 23.8%.

This contraction marks the fourth consecutive quarter of decline with average vacancy rate hitting nearly 6%.

This comes as economic recession and local political turmoil weighed on buyers’ decisions.

Foreign companies make up 61% of the total surrender of office stock in Q2.

The total consideration for these agreements also dipped 8.8% to $269.02b.

The Hong Kong-based mall was damaged in light of the protests.

Both offices have state-of-the-art facilities and modern working environments.

But the company assured that its cash flow remains sound.

All four offers on the former Kai Tak airport site failed to meet the reserve price.

Grade A office leasing net absorption at its weakest since 2002.